Benzinga | Oct 30, 2020 12:37PM EDT

CoreLogic Sends Letter To Shareholders, Calls Senator, Cannae Offer 'Low Ball,' Says 'Our willingness to engage has already resulted in preliminary interest at or above $80 per share that we are exploring'

Fellow CoreLogic Shareholders:

Our Board's highest priority is maximizing shareholder value for you. That is why we rejected Senator and Cannae's lowball offer of $66 per share, are engaging with third parties at substantially higher prices, and are entering into customary confidentiality agreements to provide due diligence.

The Board is actively pursuing multiple paths to driving value for all shareholders, including a potential sale of the Company.

The CoreLogic Board has delivered for shareholders. Our performance is strong, our revenues are recurring and diversified, and our trajectory is upward. Our willingness to engage has already resulted in preliminary interest at or above $80 per share that we are exploring.

Given the continuing pattern of false and misleading statements by Senator/Cannae, we feel compelled to set the record straight about the Board's commitment to maximizing shareholder value. Since they launched their hostile bid, Senator/Cannae have tried to undermine the value of the Company to the detriment of other CoreLogic shareholders. They have tried to undermine the Board whose engagement with third parties has resulted in interest at values far in excess of their substantially inadequate proposal. Now, after demonstrating that their interest in the Company was only at a lowball price, they are advocating that their hand-selected nominees with numerous ties to them replace a Board that clearly is working for CoreLogic shareholders.

We have been and will continue to be transparent and accountable to you, notwithstanding the machinations of others trying to undercut your Board and the value of the Company.

This is the right Board to maximize value for CoreLogic shareholders, and we ask for your support at the Special Meeting on November 17.

Paul Folino Frank Martell

Chairman Chief Executive Officer