(Reuters) – Cannae Holdings and Senator Investment Group on Monday mounted a fresh challenge against CoreLogic Inc’s board, just a week after the investment firms won three board seats at the U.S. property data and analytics provider.
The companies have asked CoreLogic to set a record date that will determine the eligibility of shareholders entitled to vote on a slate of six new board directors. The move is a safeguard against any delays in CoreLogic’s efforts to sell itself, the companies said https://refini.tv/3lXTkkU.
Cannae and Senator last week got three of their nine nominees elected to CoreLogic’s 12-member board in a shareholder vote.
The investment firms, which own 15% of CoreLogic, also said on Monday they planned to reduce their stake as part of an “ongoing portfolio management”.
CoreLogic has said it is exploring a sale as part of a review of strategic options to maximize shareholder value.
Cannae and Senator pushed the company to seek a sale by mounting a $7 billion acquisition bid of their own, but abandoned it once the sale process got underway.
(Reporting by Greg Roumeliotis and Ayanti Bera; Editing by Sriraj Kalluvila)
