Kennedy Enterprises Issues Statement of Support for CoreLogic

Rhea-AI Summary

Kennedy Enterprises LP, a significant shareholder of CoreLogic, has expressed strong opposition to the $66.00 per share acquisition proposal by Senator Investment Group and Cannae Holdings. Parker S. Kennedy, General Partner at Kennedy Enterprises, emphasized the company's robust management and asset strength, indicating confidence that CoreLogic will yield superior returns surpassing the acquisition bid. The firm will vote against the proposals at the Special Meeting scheduled for November 17, reinforcing its long-term investment strategy since 2010.

Positive

• Kennedy Enterprises has a substantial investment in CoreLogic, indicating confidence in the company's future performance.
• The company has excellent management and board, which is expected to drive superior returns.
• Kennedy Enterprises has been a major shareholder since CoreLogic's inception in 2010.

Negative

• The unsolicited acquisition proposal suggests potential undervaluation concerns among investors.

ORANGE COUNTY, Calif.--(BUSINESS WIRE)--Kennedy Enterprises LP, a top 20 CoreLogic shareholder which owns approximately 1.3 million shares, today issued the following statement regarding the unsolicited proposal from Senator Investment Group LP and Cannae Holdings Inc. to acquire CoreLogic for $66.00 per share in cash.

Parker S. Kennedy, General Partner, of Kennedy Enterprises, said, “Kennedy Enterprises has been one of the largest shareholders of CoreLogic since its inception in 2010. As one of CoreLogic's major long-term shareholders with a substantial investment in the company, I believe that CoreLogic’s excellent management and board, combined with the company’s strong assets and compelling market advantages, will deliver superior returns for years to come -- far in excess of the Senator/Cannae bid. We will vote against the Senator/Cannae proposals at the Special Meeting on November 17.”