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CoStar in bidding war to buy CoreLogic

By January 22, 2021 No Comments

Will CoreLogic stay an independent firm? Probably not with so much interest in its acquisition

CoreLogic, which is based in Irvine, Calif., has been in the crosshairs of potential acquirers for months. In June, activist investors Cannae Holdings Inc. and Senator Investment Group offered to buy the company for $66 per share. But they backed out of the deal when CoreLogic said it got an offer as high as $80 per share. In November, CoreLogic launched a strategic review of its options after Cannae and Senator won three seats on its board.

Now there are two more investors that want to buy CoreLogic, according to Bloomberg (metered paywall).

CoStar Group Inc. and a private equity group led by Warburg Pincus are the final bidders competing for data provider CoreLogic Inc., according to people familiar with the matter.

CoreLogic, which is evaluating the offers, is expected to decide in the coming weeks whether to proceed with a sale, said the people, asking not to be identified because the matter is private.

CoStar has been on a buying streak.

In November, it paid $250 million to buy Homesnap, a listing portal. A month later, CoStar’s deal to buy RentPath for $585 million was called off after federal antitrust regulators sued to block the deal.

So, it’s got money to burn. 

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