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

(RTTNews) - 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.