Proxy adviser ISS backs three of nine Cannae/Senator nominees at CoreLogic

  • 10/31/2020
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BOSTON (Reuters) - Proxy adviser Institutional Shareholder Services said on Friday that CoreLogic Inc CLGX.N shareholders should elect three of investor group Cannae Holdings CNNE.N and Senator Investment Group"s nominees as more bidders try to buy the company. ISS backed the dissident group’s nominees Steve Albrecht, Wendy Lane and Henry Winship, citing their independence, expertise in evaluating mergers and acquisitions, and ability to contribute better governance at the U.S. property data and analytics group. They should replace CoreLogic’s three longest-serving directors on its 12-member board at the Nov. 17 meeting, the report said. ISS issued its recommendation only days after CoStar Group and a private equity consortium led by Warburg Pincus and GTCR emerged as bidders to purchase CoreLogic four months after Cannae and Senator first proposed to buy it. New directors could monitor a sales process after suitors this week submitted expressions of interest for more than $80 a share, far above Cannae and Senator’s $66 a share offer.

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