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CoStar Makes $7B Buyout Bid for CoreLogic

CoStar Group said Tuesday it had made a superior offer to acquire CoreLogic, which earlier this month agreed to a buyout by Stone Point Capital and Insight Partners for $80 per share. The Washington, DC-based commercial real estate data, analytics and marketplace platform said its all-stock offer of $95.76 per share, with an equity value of $6.9 billion, represented about $1 billion more in value to CoreLogic shareholders.

“There are significant cost synergies in this combination because there are potentially hundreds of millions of dollars in duplicative costs,” CoStar CEO Andrew Florance wrote in a letter to CoreLogic’s board Tuesday. “The basic technology required to search for listings and display data and photos on a map are the same whether the properties are office buildings or houses for sale.”

CoreLogic’s board on Tuesday acknowledged receiving the unsolicited CoStar offer and said it would “carefully review” the proposal.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition