Hot housing market fuels takeover battle for CoreLogic

PHOTO: COSTAR GROUP INC.

By Peter Grant | Wall Street Journal

CoreLogic Inc., once a sleepy data firm, is the focus of a takeover battle as the hot housing market drives up the value of home- and mortgage-data services.

The country’s largest provider of information on home values, mortgages and other housing statistics for financial firms and real-estate brokers agreed this month to accept an all-cash bid of $80 a share, or about $6 billion. The bid came from private-equity firms Stone Point Capital LLC and Insight Partners.

That bid won out over a competing all-stock offer at a nominally higher value from CoStar Group Inc., one of the world’s largest providers of commercial real-estate data and online marketplaces.

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