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CoStar Group, private equity firms vying to acquire CoreLogic-sources

CoStar Group Inc and a private equity consortium led by Warburg Pincus and GTCR are among the bidders vying to acquire U.S. property data and analytics company CoreLogic Inc, people familiar with the matter said on Wednesday.

By Greg Roumeliotis

Oct 28 (Reuters) - CoStar Group Inc CLGX.N and a private equity consortium led by Warburg Pincus and GTCR are among the bidders vying to acquire U.S. property data and analytics company CoreLogic Inc CLGX.N, people familiar with the matter said on Wednesday.

The acquisition interest in CoreLogic comes after investment firms Cannae Holdings Inc CNNE.N and Senator Investment Group LP made a $7 billion offer for the company and launched a campaign to take over its board of directors.

Cannae and Senator, whose latest offer was for $66 per share in cash, are not being allowed to carry out due diligence on CoreLogic because the company considers their bid to be too low, the sources said. Some of the other suitors, however, have submitted expressions of interest to CoreLogic for more than $80 per share, and are being allowed to carry out due diligence, the sources added.

The sources requested anonymity because the matter is confidential. CoreLogic, Cannae and Senator declined to comment, while CoStar, Warburg Pincus and GTCR did not immediately respond to requests for comment.

(Reporting by Greg Roumeliotis in New York)

((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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