“CoreLogic, whose stock is down about 40% since the split, said in late August it was forming an independent committee to explore strategic options, including a possible merger or a sale.
The timing of that announcement, coming amid a difficult real estate market and a rocky stock market, isn’t the best, according to a First American Financial filing made with the Securities and Exchange Commission on Thursday.
A deal “could result in a sale of the entire company at a price that would not be beneficial to (First American’s) long-term shareholders,” the company said in the regulatory filing.”
My take on this is that First American doesn’t want someone else to own the company.
Via the Orange County Business Journal
Some business units are already being sold. CoreLogic Legal was sold off to the CIN Group last Friday.
CoreLogicLegal.com is redirected and the press release is here: http://is.gd/yoTRlF
I would think the Nov and Dec CLGX $10 calls will do well this morning.