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04 Feb 2021 | 14:56

Stone Capital, Insight Partners to buy CoreLogic for $80 a share

(Sharecast News) - Real estate data provider CoreLogic has agreed to be bought private equity firms Stone Point Capital and Insight Partners for $80 a share in cash. The price represents an equity value of about $6bn and a premium of 51% to CoreLogic's unaffected share price on 25 June.

Chairman Paul Folino said: "This is a significant milestone for CoreLogic and a very positive outcome for our shareholders who will receive exceptional value for their shares in cash with a high degree of regulatory certainty and a closing expected in the near term.

"The transaction is the culmination of our board's extensive review of strategic alternatives, which included engaging with numerous potential buyers."

The deal is expected to close in the second quarter of this year.

Earlier in the week it was reported that CoStar Group had recently submitted a bid for CoreLogic valuing the company at about $6.7bn.

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