CoStar Group Offers To Buy CoreLogic For $95.76/shr

CoStar Group Inc. (CSGP) said that it has made superior proposal to buy CoreLogic (CLGX) for $95.76 per share. The offer represents an equity value of about $6.9 billion and a premium of 74% to CoreLogic's unaffected share price on June 25, 2020.

As per 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 about $95.76 per share based on CoStar Group's closing share price on February 12, 2021.

CoStar said its proposal represents 16.2% pro forma diluted ownership for CoreLogic shareholders in the combined entity, and a $15.76 per share improvement to the value of CoreLogic's pending transaction as of February 12, 2021.

Earlier this month, CoreLogic said it agreed to be acquired by Stone Point Capital and Insight Partners for $80 per share in cash, representing an equity value of about $6.0 billion.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Apple announced that Apple News will be extending its local news offering to three additional cities in the United States to offer local news experience to readers. The service will now be provided for Charlotte, Miami, and Washington, D.C. The local news experience for each city is curated by Apple News editors to provide coverage of topics of importance for local communities. Automaker General Motors Co. (GM) on Wednesday reported third-quarter net income attributable to shareholders of $2.42 billion or $1.62 per share, lower than $4.05 billion or $2.78 per share in the prior-year quarter. Excluding items, adjusted net income for the quarter was $1.52 per share, compared... Boeing on Wednesday reported a loss for the first quarter that sharply narrowed from last year, reflecting an 8 percent increase in revenues on higher commercial airplanes and services volumes. However, core loss per share and quarterly revenues came in below analysts' expectations. Looking ahead, the airplane maker said supply chain capacity and global trade will be key drivers of the industry.
Follow RTT