CoStar Group to Acquire LoopNet for $16.50 in Cash and 0.03702 Shares (CSGP, LOOP)

CoStar Group, Inc. CSGP, the leading commercial real estate information company announced today the signing of a definitive agreement to acquire LoopNet, Inc. LOOP, the leading online commercial real estate marketplace. Pursuantto the merger agreement, LoopNet shareholders will receive $16.50 in cash and 0.03702 shares of CoStar Group common stock for each share of LoopNet common stock, representing a total equity value of approximately $860 million and an enterprise value of $762 million. The boards of directors of both companies have unanimously approved the transaction which is expected to close by the end of 2011.