Where Real Estate Gets Its Dirt

CoreLogic rejects takeover bid

CoreLogic rejects takeover bid, calls it an “opportunistic proposal”

“In a statement, Irvine, Calif.-based CoreLogic today said its board of directors has “unanimously concluded that the unsolicited proposal significantly undervalues the company, raises serious regulatory concerns, and is not in the best interests of its shareholders.”
Chairman Folino said that his company is open to “all viable paths to increasing shareholder value,” and is willing to meet with Cannae and Senator. However, given what he described as CoreLogic’s “strong momentum, increasing margins and accelerating growth,” the company could deliver more value on its own.

He also noted that the proposal failed to address “the serious regulatory concerns” raised by significant overlaps between CoreLogic and the network of companies associated with Cannae’s chairman, including Black Knight and Fidelity National. Cannae is led by Bill Foley, the chairman of Black Knight, a data and analytics company that directly competes with CoreLogic.”

Looks like its gonna be a fight.

Sponsored By Giant Steps Advisors