Deals
CoreLogic Rejects Unsolicited Offer From Cannae, Senator
- Real estate data firm says offer raises regulatory concerns
- Investors threaten special meeting to replace the board
Photographer: Chris Rank/Bloomberg
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CoreLogic Inc. rejected an unsolicited takeover offer from Cannae Holdings Inc. and Senator Investment Group, saying the $65-per-share proposal undervalues the real estate data company and raises regulatory concerns.
Irvine, California-based CoreLogic also boosted its full-year revenue guidance Tuesday for 2020, increased the amount it’s allowed to spend on buying back stock and said it has adopted a shareholder-rights plan -- known as a poison pill -- that would help it defend against a potential takeover.