CoreLogic (CLGX) Confirms Receipt of Revised Proposal from Senator Investment Group and Cannae Holdings

POTENTIAL DEAL DETAILS

CoreLogic® (CLGX) confirmed that it has received a revised unsolicited proposal from Senator Investment Group LP and Cannae Holdings Inc. to acquire all outstanding common shares of CoreLogic for $66.00 per share in cash.

Update(s):

November 03, 2020: CoreLogic (CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today stated that its Board is conducting a thorough strategic review to maximize shareholder value.

November 09, 2020: CoreLogic (CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today provided an update on its review of strategic alternatives to correct misinformation in the market.

January 22, 2021: CoStar Group Inc. (CSGP) and a private equity group led by Warburg Pincus are the final bidders competing for data provider CoreLogic Inc. (CLGX), according to people familiar with the matter.

February 04, 2021: CoreLogic (CLGX), a leading global property information, analytics and data-enabled solutions provider, today announced that the company’s Board of Directors unanimously approved a definitive merger agreement under which funds managed by Stone Point Capital and Insight Partners will acquire all outstanding shares of CoreLogic for $80 per share in cash, representing an equity value of approximately $6.0 billion and a premium of 51% to CoreLogic’s unaffected share price on June 25, 2020.

February 16, 2021: CoStar Group, Inc. (CSGP) delivered a letter to the Board of Directors of CoreLogic (CLGX) setting forth the terms of a superior proposal by CoStar Group to acquire 100% of the equity interests of CoreLogic. Under the terms of the proposal, CoreLogic shareholders would receive 0.1019 shares of CoStar Group common stock in exchange for each share of CoreLogic common stock, representing a value of approximately $95.76 per share based on CoStar Group’s closing share price on February 12, 2021.

March 01, 2021: CoStar Group Inc. (CSGP) boosted its offer to acquire CoreLogic Inc. (CLGX) to about $97 a share including a cash portion in the latest twist in a bidding war for the real estate data company.

March 04, 2021: CoreLogic  (CLGX) Responds to CoStar Regarding its Revised Acquisition Proposal that they have not concluded Updated Proposal has a Superior Proposal as defined in their merger agreement with affiliates of Stone Point Capital and Insight Partners.

March 04, 2021: CoStar Group, Inc. (CSGP) announced that it has withdrawn its bid to acquire CoreLogic and terminate any further acquisition discussions.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.