CoStar Drops Bid to Purchase CoreLogic, Blaming Rising Rates (2)

CoStar Group Inc. has withdrawn its bid to buy the real estate data firm CoreLogic Inc, according to a statement on Thursday.

CoreLogic, the subject of a bidding war in recent weeks, had said earlier that CoStar’s sweetened offer for the company was not superior to the all-cash deal it already had with a pair of suitors.

CoreLogic, known in the real estate industry for its home-price indexes, has become an appealing target amid a pandemic housing rally fueled by historically low mortgage rates. Its board agreedlast month to be acquired by funds managed by Stone Point Capital ...