CoreLogic Inc shareholder Kennedy Enterprises said on Monday it will vote against the proposed takeover bid from investment firms Cannae Holdings 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.
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.
Source: Reuters.com