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.
Jury Awards $80M to 3 Former Zurich NA Employees for Wrongful Termination 
Uncertainty Keeps Prices Up; No Prior-Year Loss Development: Travelers 
Survey Shows Majority of Florida, California Homeowners Seeing Higher Insurance Costs 
California Sees Two More Property Insurers Withdraw From Market 
