CoreLogic Shareholders Approve Acquisition by Stone Point Capital and Insight Partners
28 Abril 2021 - 11:00AM
Business Wire
CoreLogic® (NYSE: CLGX), a leading global property information,
analytics and data-enabled solutions provider, today announced that
its shareholders voted to approve the Company’s acquisition by
funds managed by Stone Point Capital and Insight Partners for $80
per share in cash. The completion of the transaction remains
subject to regulatory approval and customary closing
conditions.
“This is a significant milestone for CoreLogic and a very
positive outcome for our shareholders. With their overwhelming
support, we expect to be able to close the transaction during the
second quarter,” said CoreLogic Chairman Paul Folino.
“Stone Point is excited to work with the CoreLogic leadership
team to support the company’s next phase of growth. CoreLogic’s
data and software platforms help power the housing and insurance
industries, both of which are undergoing a digital transformation.
We believe our financial services domain expertise and partnership
can accelerate CoreLogic’s momentum as it delivers new innovative
solutions to its customers,” said Chuck Davis, CEO of Stone Point
Capital.
“CoreLogic is a market leader with a long history of serving
customers with powerful data technology and a future vision to
innovate across the real estate ecosystem. We are excited that we
are one step closer to supporting CoreLogic in its next chapter of
transformational growth,” added Deven Parekh, Managing Director at
Insight Partners.
Evercore is serving as financial advisor to CoreLogic and
Skadden, Arps, Slate, Meagher & Flom LLP is serving as the
Company’s legal advisor.
CLGX-F
About CoreLogic
CoreLogic (NYSE: CLGX), the leading provider of property
insights and solutions, promotes a healthy housing market and
thriving communities. Through its enhanced property data solutions,
services and technologies, CoreLogic enables real estate
professionals, financial institutions, insurance carriers,
government agencies and other housing market participants to help
millions of people find, buy, and protect their homes. For more
information, please visit www.corelogic.com.
Safe Harbor / Forward Looking Statements
Certain statements made in this communication are
“forward-looking statements” within the meaning of the federal
securities laws, including but not limited to those statements
related to the acquisition of CoreLogic by affiliates of Stone
Point Capital Partners and Insight Partners (the “Merger”),
including financial estimates and statements as to the expected
timing, completion and effects of the Merger. Risks and
uncertainties exist that may cause the results to differ materially
from those set forth in these forward-looking statements. These
risks and uncertainties include but are not limited to: (i) the
completion of the Merger on the anticipated terms and timing,
including obtaining required regulatory approvals, and the
satisfaction of other conditions to the completion of the
acquisition, (ii) the ability of Stone Point Capital Partners and
Insight Partners to obtain the necessary financing arrangements set
forth in the commitment letters received in connection with the
Merger; (iii) potential litigation relating to the Merger that
could be instituted against Stone Point Capital Partners, Insight
Partners, CoreLogic or their respective directors, managers or
officers, including the effects of any outcomes related thereto;
(iv) the risk that disruptions from the Merger will harm
CoreLogic’s business, including current plans and operations; (v)
the ability of CoreLogic to retain and hire key personnel; (vi)
potential adverse reactions or changes to business relationships
resulting from the announcement or completion of the Merger; (vii)
continued availability of capital and financing and rating agency
actions; (viii) legislative, regulatory and economic developments;
(ix) potential business uncertainty, including changes to existing
business relationships, during the pendency of the Merger that
could affect CoreLogic’s financial performance; (x) certain
restrictions during the pendency of the Merger that may impact
CoreLogic’s ability to pursue certain business opportunities or
strategic transactions; (xi) unpredictability and severity of
catastrophic events, including but not limited to acts of
terrorism, outbreaks of war or hostilities or the COVID-19
pandemic, as well as management’s response to any of the
aforementioned factors; (xii) the possibility that the Merger may
be more expensive to complete than anticipated, including as a
result of unexpected factors or events; (xiii) the occurrence of
any event, change or other circumstance that could give rise to the
termination of the Merger, including in circumstances requiring
CoreLogic to pay a termination fee; (xiv) those risks and
uncertainties set forth in Part I, Item 1A of CoreLogic’s most
recent Annual Report on Form 10-K and Part II, Item 1A of
CoreLogic’s subsequent Quarterly Reports on Form 10-Q, as such risk
factors may be amended, supplemented or superseded from time to
time by other reports filed by CoreLogic with the Securities and
Exchange Commission (the “SEC”); and (xv) those risks described in
the definitive proxy statement that was filed with the SEC on March
30, 2021 (as supplemented on April 5, 2021 and April 16, 2021) and
is available from the sources indicated below. These risks, as well
as other risks associated with the Merger, are more fully discussed
in the definitive proxy statement that was filed with the SEC on
March 30, 2021, in connection with the Merger (as supplemented on
April 5, 2021 and April 16, 2021). While the list of factors
presented here and in the definitive proxy statement are considered
representative, no such list should be considered a complete
statement of all potential risks and uncertainties. Unlisted
factors may present significant additional obstacles to the
realization of forward-looking statements. Consequences of material
differences in results as compared with those anticipated in the
forward-looking statements could include, among other things,
business disruption, operational problems, financial loss, legal
liability to third parties and similar risks, any of which could
have a material adverse effect on CoreLogic’s consolidated
financial condition, results of operations, credit rating or
liquidity. The forward-looking statements speak only as of the date
they are made. CoreLogic does not undertake to update
forward-looking statements to reflect circumstances or events that
occur after the date the forward-looking statements are made.
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version on businesswire.com: https://www.businesswire.com/news/home/20210428005842/en/
Investors: Dan Smith 703-610-5410 danlsmith@corelogic.com
Media: Sard Verbinnen & Co. George Sard/Robin Weinberg/Devin
Broda CoreLogic-SVC@SARDVERB.com
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