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CoreLogic Says Activist Offer Still Lacks ‘Appropriate Value’

CoreLogic Inc., an Irvine-based provider of global property data (NYSE: CLGX), said activist shareholders Senator Investment Group LP and Cannae Holdings Inc. have yet to revise their takeover proposal after a meeting yesterday between the two parties.

“Despite the company’s recent guidance update for 2020 and disclosure of financial projections for 2021 and 2022, Senator and Cannae have not revised their proposal to deliver appropriate value to our shareholders,” CoreLogic said in a statement after meeting the activists.

“We are open to continuing our dialogue, but we are focused on delivering superior shareholder value by executing on our plan. We are experiencing strong momentum across our business and will update the market when we release our second quarter earnings.”

CoreLogic on July 7 rejected the takeover offer, which valued the company at $65 a share. Shares were unchanged today at $66.97, an indication that shareholders expect the activists to increase their bid.

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Peter J. Brennan
Peter J. Brennan
With four decades of experience in journalism, Peter J. Brennan has built a career that spans diverse news topics and global coverage. From reporting on wars, narcotics trafficking, and natural disasters to analyzing business and financial markets, Peter’s work reflects a commitment to impactful storytelling. Peter’s association with the Orange County Business Journal began in 1997, where he worked until 2000 before moving to Bloomberg News. During his 15 years at Bloomberg, his reporting often influenced financial markets, with headlines and articles moving the market caps of major companies by hundreds of millions of dollars. In 2017, Peter returned to the Orange County Business Journal as Financial Editor, bringing his heavy business industry expertise. Over the years, he advanced to Executive Editor and, in 2024, was named Editor-in-Chief. Peter’s work has been featured in prestigious publications such as The New York Times and The Washington Post, and he has appeared on CNN, CBC, BBC, and Bloomberg TV. A Kiplinger Fellowship recipient at The Ohio State University, he leads the Business Journal with a dedication to uncovering stories that matter and shaping the local business community and beyond.
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