Fidelity National Financial Inc. has agreed to “sell a copy” of LPS title plants in six Oregon counties and an ownership interest equivalent to LPS’ share of a jointly owned title plant in the metro Portland area to resolve federal antitrust regulators’ concerns about Fidelity’s planned $2.9 billion acquisition of LPS, scheduled to close Jan. 2.

The Federal Trade Commission — which had charged that the deal was likely to “substantially lessen competition” — says the settlement “will restore competition that is likely lost through the merger but will not interfere with any efficiencies that may be associated with the combination of the two companies.”

Title plants are databases used by abstractors, title insurers and title insurance agents to determine the title status of real property. The databases are used to establish the chain of title and make other determinations needed to underwrite and issue title insurance policies. Source: ftc.gov.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription