RTTNews | Feb 16, 2021 10:07AM EST

10:06 Tuesday, February 16, 2021 (RTTNews.com) - Shares of CoreLogic Inc. (CLGX), a California-based real estate data provider, are rising almost 6 percent or $4.81 in Tuesday's morning trade at $86.80, after hitting a new 52-week high of $87.28.

Tuesday, CoStar Group Inc. (CSGP) said that it has made a superior proposal to buy rival CoreLogic for $95.76 per share. The offer represents an equity value of about $6.9 billion and a 74 percent premium to CoreLogic's unaffected share price on June 25, 2020.

Earlier this month, CoreLogic said it agreed to be acquired by private equity firms Stone Point Capital and Insight Partners for $80 per share in cash, representing an equity value of about $6.0 billion. However, CoStar noted that the private equity firms' cash bid was materially less than its own all-stock offer made earlier, which had a headline value of $86.30 per share.

CoreLogic has traded in a range of $24.69 to $87.28 in the past 52 weeks.

Read the original article on RTTNews ( https://www.rttnews.com/3170032/stock-alert-corelogic-hits-new-52-week-high-after-costar-group-makes-rival-bid.aspx)

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