M&A · Tech · Services-Computer Processing & Data Preparation
Stone Point Capital Partners and Insight Partners to acquire Corelogic, Inc.
Announced Feb 4, 2021 · Closed Jun 4, 2021
Deal value$6.00BEV $7.27B
Premium51.0%To unaffected price
EV / Adj. EBITDA14.5x3.9x EV / Revenue
ConsiderationAll cash$80.00 per share
Transaction
- Acquirer
- Stone Point Capital Partners and Insight Partners
- Target
- Corelogic, Inc. (CLGX)
- Buyer type
- Private equity
- Offer price per share
- $80.00
- Enterprise value
- $7.27B
- Status
- Closed Jun 4, 2021
Deal protections
- Break fee (target pays)
- $165M · 2.8%
- Reverse fee (buyer pays)
- $330M · 5.5%
- Go-shop
- No-shop
- Financing
- Committed · JPMorgan
Advisors
- To the acquirer
- JPMorgan, Wells Fargo
- To the target
- Evercore
- Evercore fee
- $52.0M
Sector context · Tech
- Comparable deals
- 16 in the prior 24 months
- Premium
- 51.0% vs. 33.0% sector median
- EV / Adj. EBITDA
- 14.5x vs. 20.0x sector median
- Break fee
- 2.8% vs. 3.0% sector median
Timeline
- AnnouncedFeb 4, 2021
- Proxy filedMar 1, 2021
- Definitive proxyMar 30, 2021
- Shareholder voteApr 28, 2021
- ClosedJun 4, 2021
Valuation · fairness opinions
Discounted cash flow$74.22$100.40
Discounted cash flow$67.29$91.58
Precedent transactions$86.22$113.41
Precedent transactions$60.87$81.72
Trading comparables$71.23$108.74
Offer $80.00
Implied value per Corelogic, Inc. share by analysis, from Evercore · DCF discount rate 8%–9%.