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CoStar Boosts Its Offer to Acquire CoreLogic to $6.9 Billion

  • CoreLogic says current deal ‘remains in full force and effect’
  • ‘Shareholders agree with us,’ CoStar’s CEO says in letter
   
Photographer: Sim Chi Yin/Bloomberg
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CoStar Group Inc. boosted its offer to acquire CoreLogic Inc. to $95.76 a share, topping a bid the property-data company accepted earlier this month.

CoreLogic’s recent agreement with funds managed by Stone Point Capital and Insight Partners “was materially less than our last all-stock offer,” CoStar Chief Executive Officer Andrew Florance said in a letter Tuesday to CoreLogic’s board. He added he was “stunned” to read about the deal.