Data and analytics firm CoreLogic disclosed it has received an unsolicited acquisition bid from an investment firm and hedge fund.
Cannae Holdings and Senator Investment Group offered to acquire all outstanding common shares of the company for $65 per share in cash, CoreLogic said.
For now, the company is advising its shareholders to take no action, pending a review. CoreLogic said its board of directors would “carefully review the proposals” along with financial and legal advisors to determine any future action.
CoreLogic focuses on data and analytics targeted to the housing and insurance industries.
The company on June 25 said its 2020 second-quarter financial results would exceed previously issued revenue and guidance, due to “continued market share gains and operating leverage attributable to higher U.S. mortgage market volumes.”
CoreLogic previously predicted revenue between $420 million and $445 million for the quarter, but that guidance has been raised to between $455 million and $465 million.
Source: CoreLogic