Deals
CoreLogic’s Board Says Revised CoStar Proposal Not Superior
- Board urges CoStar to materially increase cash part of bid
- CoreLogic has agreement in place with Stone Point, Insight
Photographer: Brendon Thorne/Bloomberg
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CoreLogic Inc.’s board of directors deemed CoStar Group Inc.’s revised bid to not be superior to the deal it has already agreed to with another pair of suitors.
Even with the addition of a $6 per share cash component to CoStar’s previous all-stock offer, the board unanimously agreed that the proposal needed further improvement, CoreLogic Chief Executive Officer Frank Martell said in a letter seen by Bloomberg News.