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RP Data’s major shareholder CoreLogic has announced its intentions to buy the property information and analytics provider.
According to RP Data’s chief executive officer Graham Mirabito, CoreLogic’s proposal to buy the remaining RP Data shares represents a compelling premium and a highly attractive outcome for the company.
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“This transaction is in the best interests of RP Data’s clients and staff, as well as shareholders. CoreLogic, as well as being our major shareholder, is also a key strategic partner of RP Data’s and a global leader in the field of property data and risk analytics,” Mr Mirabito said.
Under the terms of the CoreLogic proposal, CoreLogic intends to acquire all of the issued shares in RP Data that it does not currently own via a scheme of arrangement.
RP Data chairman Ian Fraser said that he would recommend the company’s shareholders vote in favour of the CoreLogic Proposal.
“Our recommendation is of course subject to there being no forthcoming superior proposal and the Independent Expert concluding that the proposal is fair and reasonable and therefore in the best interests of non-CoreLogic shareholders,” Mr Fraser said.
