CoStar Group Inc. and a private equity group led by Warburg Pincus are the final bidders competing for data provider CoreLogic Inc., according to people familiar with the matter.
CoreLogic, which is evaluating the offers, is expected to decide in the coming weeks whether to proceed with a sale, said the people, asking not to be identified because the matter is private.
No final decision has been made, and CoreLogic may choose to remain independent, they added.
Representatives for CoStar, Warburg Pincus and CoreLogic declined to comment.
CoreLogic rose as much as 6% Thursday in New York trading. The shares were up 1.2% to $76.62 at 3:22 p.m., giving the company a market value of about $6 billion. CoStar rose 1.1% to $909.23, giving it a market value of $36 billion.
CoStar, based in Washington, provides data and analytics to the real estate industry. A takeover of CoreLogic would be its largest ever takeover, according to data compiled by Bloomberg.
CoreLogic, which also provides data and analytics to the real estate and mortgage industry, has been in play for months.
The Irvine, California-based company launched a strategic review in November in the midst of a boardroom battle with investors Cannae Holdings Inc. and Senator Investment Group. The duo subsequently won three seats on CoreLogic’s board.
The investors had offered to buy the company in June but pulled out of the sales process after CoreLogic said it had received indications of interest at $80 or above. The duo, which said they weren’t interested in acquiring CoreLogic at that price, had offered $66 a share to buy the company.
It’s unclear what CoStar and Warburg Pincus have offered. Warburg Pincus had teamed up with GTCR to pursue CoreLogic, Bloomberg News has previously reported. A GTCR representative didn’t respond to a request for comment.