logo
Plus   Neg
Share
Email

CoreLogic Rejects Boosted Unsolicited Proposal Of $66/share From Senator/Cannae - Quick Facts

CoreLogic Inc. (CLGX) announced Tuesday that its Board of Directors has unanimously rejected the revised unsolicited proposal from Senator Investment Group LP and Cannae Holdings Inc., received on Monday, to acquire all outstanding common shares of CoreLogic for $66.00 per share in cash.

The revised proposal of $66.00 per share reflects a $1.00 per share price increase and is otherwise unchanged from the prior proposal.

CoreLogic's Board of Directors unanimously concluded that the revised proposal continues to significantly undervalue CoreLogic, raises serious regulatory concerns that have not been addressed, and is not in the best interests of shareholders.

Since the original Senator/Cannae proposal was made on June 26, CoreLogic has reported strong second quarter financial results, significantly increased guidance for the remainder of 2020, 2021 and 2022 based on the strength of its business, raised its quarterly dividend by 50%, and committed to a $1 billion share repurchase.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Intel Corp. is planning to manufacture majority of its 2023 products internally, while it may outsource some, according to the incoming Chief Executive Officer Pat Gelsinger. At the fourth-quarter earnings webcast, while talking about 7nm program development, Gelsinger said, "I am confident that the majority of our 2023 products will be manufactured internally...." American Airlines has extended its offer to waive change fees for customers who purchase tickets for travel, until March 31 in response to lower travel demand due to the coronavirus pandemic. This means that travelers are provided additional flexibility by not asking them to pay penalties for changing the origin and destination cities. Lancaster Foods LLC has recalled certain conventional processed butternut squash items citing the potential to be contaminated with Listeria Monocytogenes, the U.S. Food and Drug Administration said. The products recalled included Autumn Medley, Butternut Squash Noodles, Butternut Squash Planks, Squash Noodle Medley, Butternut Squash Chunks, and Veggie Rice Blend in various measures.
RELATED NEWS
Follow RTT