Title insurer First American Financial Corp said it was dropping its plan to acquire CoreLogic Inc, barely two months after it offered to purchase its former unit.First American, which owns about 9 percent of CoreLogic, made the offer after the real estate data provider said it had hired boutique advisory firm Greenhill & Co to help explore options, including a possible sale or merger.First American did not disclose the reason for withdrawing its offer.The insurer also said it has settled a lawsuit with Bank of America N.A. and Fiserv Solutions Inc over unpaid claims, according to a filing with the U.S. Securities and Exchange Commission.
CoreLogic, Inc., formerly The First American Corporation, is a provider of property, financial and consumer information, analytics and services to mortgage originators and servicers, financial institutions and other businesses, government and government-sponsored enterprises. Shares of CLGX remained unchanged at $13.74. In the past year, the shares have traded as low as $7.64 and as high as $20.97. On average, 1024740 shares of CLGX exchange hands on a given day and today's volume is recorded at 0.
Greenhill & Co., Inc., (Greenhill) is an independent investment bank focused on providing financial advice on significant mergers, acquisitions, restructurings, financings and capital raising to corporations, partnerships, institutions and governments. Shares of GHL remained unchanged at $39.73. In the past year, the shares have traded as low as $26.38 and as high as $84.51. On average, 506708 shares of GHL exchange hands on a given day and today's volume is recorded at 0.
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