Why CoreLogic Stock Jumped Today
Shares of CoreLogic (NYSE: CLGX) have jumped today, up by 13% as of 2:30 p.m. EDT, after the company confirmed that it was engaged in acquisition negotiations with potential bidders. Trading was halted briefly earlier this morning due to volatility but has since resumed.
Numerous media outlets including Bloomberg, CNBC, and Reuters reported this morning that the real estate data provider was discussing a potential buyout with CoStar Group (NASDAQ: CSGP) and a consortium of private equity firms led by Warburg Pincus and GTCR. The news comes shortly after Cannae Holdings (NYSE: CNNE) and Senator Investment Group had increased their offer for CoreLogic by $1 to $66 per share, which CoreLogic said last month was too low.
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Source Fool.com
