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CoreLogic Rejects $7B Takeover Bid From Investment Firms

By  |  July 7, 2020

Property data and analytics company CoreLogic on Tuesday rejected an unsolicited $7 billion takeover offer, saying it expected to earn more this year and would buy back more of its stock.

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    Investment groups Cannae Holdings Inc and Senator Investment Group last month proposed to buy the company, valued at $5.3 billion, for $65 a share. At the time, the offer represented a 37% price premium, but CoreLogic’s shares have climbed and were trading at $68.51 on Tuesday, meaning the offer price no longer carries a premium.

    CoreLogic’s board “unanimiously rejected the unsolicited proposal,” board chairman Paul Folino said in a statement.

    Full Content: New York Times

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