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CoreLogic shareholder Kennedy Enterprises to vote against takeover bid

Reuters
·1-min read

(Reuters) - CoreLogic Inc <CLGX.N> shareholder Kennedy Enterprises said on Monday it will vote against the proposed takeover bid from investment firms Cannae Holdings <CNNE.N> and Senator Investment Group for the U.S. property data and analytics firm.

Parker Kennedy, general partner of Kennedy Enterprises and a former board member of CoreLogic, said CoreLogic's management and board, combined with its assets and market advantages, will deliver better returns than Senator and Cannae's bid. (https://refini.tv/2SuyIUc)

Earlier in September, the investment firms raised their bid for CoreLogic by a dollar to $66 per share to restart takeover negotiations after talks had stalled over their requests to review financial data.

Kennedy Enterprises holds a 1.6% stake in CoreLogic.

(Reporting by Ayanti Bera in Bengaluru; Editing by Shinjini Ganguli)