IRVINE, Calif.–CoreLogic (NYSE: CLGX), a leading global provider of property information, insight, analytics and data-enabled solutions, today confirmed that it has received an unsolicited acquisition proposal from CoStar Group for an all-stock transaction. 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.
On February 4, CoreLogic’s Board of Directors unanimously approved a definitive merger agreement under which funds managed by Stone Point Capital and Insight Partners agreed to acquire all outstanding shares of CoreLogic for $80 per share in cash. The merger agreement remains in full force and effect, and the Board of Directors of CoreLogic has not withdrawn or modified its recommendation that the stockholders of CoreLogic vote in favor of the approval of the merger, the merger agreement and the transactions contemplated thereby.
CoreLogic’s Board of Directors, consistent with its fiduciary duties and the terms
of the merger agreement, will carefully review the proposal in consultation with its outside legal counsel and financial advisors to determine whether it is or would reasonably be expected to result in a superior proposal. CoreLogic shareholders need take no action at this time.
Evercore is serving as financial advisor to CoreLogic and Skadden, Arps, Slate, Meagher & Flom LLP is serving as the Company’s legal advisor.
CoreLogic (NYSE: CLGX), the leading provider of property insights and solutions, promotes a healthy housing market and thriving communities. Through its enhanced property data solutions, services and technologies, CoreLogic enables real estate professionals, financial institutions, insurance carriers, government agencies and other housing market participants to help millions of people find, buy, and protect their homes.