Property data and analytics firm CoreLogic Inc. said on Monday it would not open its books to investment firms Senator Investment Group LP and Cannae Holdings Inc. unless they raise their $7 billion offer to buy the company.
Earlier in July, the investment firms asked CoreLogic for more financial documents to better assess the profitability of its business segments, Reuters reported citing sources, after the company again rejected their unsolicited $65 per share buyout offer as inadequate.
“Granting diligence for an offer that significantly undervalues CoreLogic is not in the best interests of other shareholders,” the company said in a statement.
(Reporting by Ayanti Bera in Bengaluru; Editing by Amy Caren Daniel)
Was this article valuable?
Here are more articles you may enjoy.
Trump’s EPA Rollbacks Will Reverberate for ‘Decades’ 
Lemonade Books Q4 Net Loss of $21.7M as Customer Count Grows 
Insurance Broker Stocks Sink as AI App Sparks Disruption Fears 
Preparing for an AI Native Future 
