Benzinga | Feb 4, 2021 12:38PM EST

CoreLogic Gets Acquire For $6B, Almost Twice Its Market Value One Year Ago

* CoreLogic (NYSE: CLGX) agreed to be acquired by Stone Point Capital and Insight Partners for a $6 billion purchase price, valued at $80 per share in cash.

* The deal will be financed with a combination of equity from funds managed by Stone Point Capital and Insight Partners and debt from J.P. Morgan Securities. The transaction is likely to close in the second quarter of 2021, subject to approval.

* CoreLogic hit a low of $25 in March 2020 and was valued at around $40 one year ago. The company's stock price is up 71.4% in the last year, with roughly 5% revenue growth.

* The company had bumped up their outlook for 2020 and 2021 in December, citing strength in property tax processing, insurance & spatial and international, and continued strong housing market fundamentals.

* Its EPS and revenue estimates were bumped up by analysts six times and five times, respectively, in the last three months.

* Evercore is serving as financial advisor to CoreLogic, and Skadden, Arps, Slate, Meagher & Flom are serving as the company's legal advisor.

* J.P. Morgan Securities LLC and Wells Fargo Securities, LLC are acting as financial advisors to Stone Point Capital and Insight Partners.

* "Stone Point and Insight Partners are highly respected investors who recognize the value and potential of CoreLogic's digital content, solutions, and market-leading platforms that power the housing economy. We look forward to working closely with Stone Point and Insight to build on our record financial and operating performance and accelerate our digital transformation and growth," CoreLogic CEO Frank Martell.

* Price action: CLGX shares are down 0.45% at $80.42 on the last check Thursday.