Title insurance company Fidelity National Financial (FNF) has adjusted the consideration grouping in the planned acquisition of Lender Processing Services, by raising $500m in cash part of the total consideration.

Based on the revised plan, FNF will offer $300m of the $500m increase, with funds affiliated with Thomas H Lee Partners providing the remaining $200m.

FNF chairman William Foley, II said, "The increase in the cash component of the total consideration for LPS brings more stability and less potential volatility to the total consideration that LPS stockholders will receive."

"It reduces their exposure to movements in FNF’s common stock price over the next several months until the closing of the acquisition, which is expected to occur in the fourth quarter of 2013."

The total consideration for the transaction will remain unchanged, as the extra $500m cash will be offset by an equal reduction in the stock of the total consideration.

On 28 May 2013, FNF reached an agreement to purchase LPS for $33.25 per common share, for a total equity value of approximately $2.9bn.

Following closing of transaction, the acquired operation will be integrated with FNF’s ServiceLink business under a new consolidated holding company.

Retaining nearly 71% ownership interest, FNF will further divest a 29% minority equity interest in the new consolidated holding company to THL, for a total cash consideration of nearly $581m.