Stone Point Capital, Insight Partners to buy CoreLogic for $6 bln

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