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CoreLogic To Expand Board

CoreLogic on Monday announced yet another attempt to appease activist shareholder Highfields Capital, only to have Highfields once again reject the steps.   It’s unhappy major shareholder Highfields has argued for a board shakeup, but said Monday that adding two members to a seven member board are only “cosmetic changes.”

CoreLogic had decided last month after a strategic review not to sell itself, but launched cost-cutting moves and a restructuring as well as saying its results were improving as real-estate markets picked up.

CoreLogic, a data provider that specializes in real-estate, says it has postponed its annual meeting until the summer and hired executive-search firm Spencer Stuart to find it two new independent board members.  It pushed out, for the third time, the deadline for when nominees for the board are required.

Source:  Wall Street Journal

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