CoreLogic (CLGX), announced that its board unanimously approved a definitive merger agreement under which funds managed by Stone Point Capital and Insight Partners will acquire all outstanding shares of CoreLogic for $80 per share in cash, representing an equity value of approximately $6B and a premium of 51% to CoreLogic's unaffected share price on June 25, 2020.

The transaction will be financed through a combination of committed equity financing provided by funds managed by Stone Point Capital and Insight Partners, as well as committed debt financing provided by J.P. Morgan Securities. The transaction is expected to close in Q2 of 2021 subject to shareholder approval, regulatory approvals, and other customary closing conditions.

CoreLogic Chairman Paul Folino said, "This is a significant milestone for CoreLogic and a very positive outcome for our shareholders who will receive exceptional value for their shares in cash with a high degree of regulatory certainty and a closing expected in the near term. The transaction is the culmination of our Board's extensive review of strategic alternatives, which included engaging with numerous potential buyers."

CoStar Group, according to a Bloomberg report yesterday, submitted an all-stock bid to acquire CoreLogic worth $86 per share or $6.7B.