Private equity firms Stone Point Capital and Insight Partners have agreed to buy CoreLogic Inc for about $6 billion, the property data and analytics company said on Thursday.
Last year, the real estate data provider had rejected a $7 billion buyout deal from activist investors Senator Investment Group LP and Cannae Holdings Inc.
Rival CoStar Group Inc and a private equity consortium led by Warburg Pincus and GTCR were also among the bidders seeking to acquire CoreLogic, Reuters reported in October last year.
Shareholders of CoreLogic will be offered $80 per share in cash, the company said. The price represents a discount of about 1% to the stock’s last close.
Evercore was the financial adviser to CoreLogic, while JP Morgan Securities and Wells Fargo advised Stone Point Capital and Insight Partners on the deal.
Source: Reuters
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