U.S. property data and analytics company CoreLogic Inc rebuffed peer CoStar Group Inc’s sweetened buyout offer, saying it required improvement in terms of value.
Earlier this week, CoStar raised its offer to buy CoreLogic by adding another $450 million to its original $6.9 billion all-stock proposal, hoping to seal a deal and triumph over another competing bid by private equity firms.
Under the new proposal, CoreLogic shareholders would receive $6 per share in cash and 0.1019 shares of CoStar’s common stock in exchange for each share of CoreLogic, totaling $90 per share.
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