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Stone Point Capital and Insight Partners entered an agreement to buy CoreLogic, Inc. at an equity value of approximately $6 billion, according to Bloomberg. The companies are acquiring CoreLogic at $80 a share which happens to be a 51% premium to CoreLogic's "unaffected share price," according to the report.
“CoreLogic is a mission-critical vendor and data provider across industry sectors in which Stone Point has specialized over the past 20 years, including mortgage, residential real estate and P&C insurance,” said Chuck Davis, chief executive officer of Stone Point Capital, according to Bloomberg. “CoreLogic’s proprietary data assets are increasingly important to its customers, and we look forward to leveraging our network within the broader financial services industry to support the company’s next phase of growth.”
The deal comes after investors Cannae Holdings Inc. and Senator Investment Group pulled an offer to buy CoreLogic in June. The companies pulled out of the deal after CoreLogic received interest at $80 or above, according to the report.
Click here to learn more about the pending acquisition of CoreLogic.