CoreLogic's (NYSE:CLGX) board rejects CoStar Group's (NASDAQ:CSGP) revised acquisition proposal, saying its "value, certainty of value, and certainty of closing in a timely manner" would need to be improved for the board to accept it.
"We continue to believe that there is strategic potential in the combination of our two businesses and we request that you reconsider your positions on these important terms," the
CoreLogic's agreement to be acquired by Stone Point Capital and Insight Partners for $80 per share in cash remains in force.
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