Shares of CoStar Group were up 5.5% in pre-market trading on March 5 as the provider of commercial real estate information and online marketplaces withdrew its bid for CoreLogic. CoStar Group (CSGP) said that rising interest rates have resulted in a significant decline in recent weeks of valuations of residential property technology companies, which changed its view on the CoStar deal. The company also said that the increase in interest rates is expected to adversely impact the mortgage refinancing market. Shares of CarLogic (CLGX) , a provider of real estate, consumer and financial data analytics, dropped 3.4% before the bell. Shares of CoStar Group have tanked 16.
https://www.tipranks.com/news/costar-group-pulls-out-of-bid-for-corelogic-shares-gain-5-5