Benzinga | Nov 23, 2020 04:38PM EST

Senator Investment Group, Cannae Holdings Deliver Request To CoreLogic, Initiate Written Consent Process to Be Able to Remove and Replace Directors at Co.

Senator Investment Group LP ("Senator") and Cannae Holdings, Inc. (NYSE:CNNE), ("Cannae"), today announced that they have delivered a request to CoreLogic, Inc. ("the Company") (NYSE:CLGX) to set a record date in connection with a potential solicitation of written consents to remove and replace directors at the Company.

Senator and Cannae issued the following statement:

"We are hopeful that CoreLogic's Board will heed the clear mandate shareholders expressed at the November 17th Special Meeting of Stockholders and engage in good faith with all bidders to maximize value. However, given the recent track record of the Company, we believe it is necessary for shareholders to have a safeguard in place.

The submission of this record date request ensures we can act promptly by written consent to hold the Company accountable if there continue to be unexplainable delays in the process or if we learn the Board is not acting in the best interests of shareholders. If this step is required, we would be in position to move forward as early as December to seek to remove and replace six directors. Following the announcement today of our three nominees -- W. Steve Albrecht, Wendy Lane and Henry W. "Jay" Winship -- being added to the Board, this approach would give shareholders the chance to ensure a majority of the Board would be newly added and fully independent.

We intend to remain one of the largest shareholders of CoreLogic at least through the announcement of a transaction agreement being reached -- though we plan to reduce our economic position as part of our ongoing portfolio management. We look forward to helping deliver the best possible outcome for all CoreLogic shareholders and providing a critical reassurance that a fair and comprehensive sales process occurs."

Visit www.UnlockingCoreLogic.com for more information.