CoStar (CSGP) Discloses $8.75/Share Offer for REIS (REIS)

August 13, 2008 7:18 AM EDT

CoStar Group, Inc. (Nasdaq: CSGP) offered to acquire REIS, Inc. (Nasdaq: REIS) for a per share consideration of $8.75, all cash with no financing contingency.

CoStar's proposal represents a premium of approximately 97% above the $4.44 per share closing price of REIS common stock on August 12, 2008.

CoStar said it initially made the offer on June 5, 2008, but received a response from REIS that is was not interested in the proposal. CoStar said since that time, REIS has dropped approximately 20%.


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CSGP 38.59

-2.09 -5.14%
Volume: 252,158
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REIS 4.00

+0.08 +2.04%
Volume: 1,506
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