The announcement comes after a highly publicized competition among activist investors. (Photo: CoreLogic)
Global property information, data and analytics firm CoreLogic accepted a $6 billion acquisition deal from Stone Point Capital and Insight Partner, marking an end to a competitive sale process initiated last summer by activist investors from Cannae Holdings and Senator Investment Group.
Since its founding in 2010, CoreLogic has been an essential partner to insurance businesses, providing intelligence and analytics to help underwriters manage structural and weather-related property risks.
CoreLogic announced on Feb. 4th that its board of directors had unanimously approved a definitive merger agreement with the two firms in which they acquire all of its outstanding shares for $80 per share in cash. That accounts for an equity value of approximately $6 billion. In a statement, the firms said that value represents a 51% premium to CoreLogic's unaffected share price in June.
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