Welcome to our dedicated page for Cannae Holdings news (Ticker: CNNE), a resource for investors and traders seeking the latest updates and insights on Cannae Holdings stock.
Cannae Holdings, Inc. (NYSE: CNNE) is a Nevada-based holding company that acquires interests in operating businesses and takes an active role in managing a core group of those companies. This news page aggregates company-issued updates and regulatory-related announcements so readers can follow how Cannae describes the evolution of its strategy, portfolio, and governance over time.
Recent Cannae news has focused on its strategic transformation as a permanent capital vehicle, including a shift in its portfolio toward proprietary private investments, the disposition of its equity interest in Dun & Bradstreet Holdings, Inc., and plans for using transaction proceeds for share repurchases, dividends, debt reduction, and new investments. The company also regularly announces quarterly financial results and related conference calls, providing insight into how management discusses performance and capital allocation.
Governance and shareholder matters are another recurring theme in Cannae’s news flow. The company has reported on its annual meetings of shareholders, board declassification, changes to its Articles of Incorporation and bylaws, and board composition, including the addition of new independent directors. Cannae’s communications also describe an ongoing proxy contest with Carronade Capital, outlining the company’s perspective on board nominees and governance proposals.
Visitors to this page can review press releases on dividends, earnings release dates, portfolio transactions, and shareholder meetings, alongside references to related SEC filings. For investors and analysts tracking CNNE, this news feed offers a centralized view of Cannae’s own disclosures about its long-term investment approach, capital returns to shareholders, and governance developments.
Cannae Holdings, Inc. (NYSE:CNNE) has appointed two new members, Barry Moullet and David Aung, to its board of directors, effective February 18, 2021. This expands the board to 11 members. Mr. Moullet brings over 35 years of experience, including leadership roles at Focus Brands and Darden Restaurants, focusing on supply chain management. Mr. Aung is an Investment Officer with a background in risk analytics and investment, previously working at KKR Credit and the Trust Company of the West. Both appointments aim to enhance Cannae’s strategic operations and risk management expertise.
Cannae Holdings, Inc. (NYSE:CNNE) announced that Austerlitz Acquisition Corp. II (ASZ) has filed a registration statement to launch an IPO for 100 million units priced at $10 each. Each unit comprises one share of ASZ Class A common stock and one-fourth of a redeemable warrant. Cannae plans to invest $125 million in ASZ, acquiring 12.5 million shares and 3.125 million warrants at $11.50 per share. The offering is subject to market conditions, and the registration statement filed with the SEC has yet to become effective.
Cannae Holdings (NYSE:CNNE) announced that Austerlitz Acquisition Corp. I (AUS) has filed a registration statement for an IPO offering 50 million units at $10 each. The IPO includes shares and redeemable warrants, with AUS targeting NYSE listing under symbol AUS.U. Cannae plans to enter a forward purchase agreement to buy 7.5 million shares of AUS Class A common stock and 1.875 million warrants for $75 million. The offering is subject to market conditions and the registration statement has not yet become effective.
Cannae Holdings, Inc. (NYSE:CNNE) will announce its fourth quarter and full year 2020 financial results on February 22, 2021, after market close. The company will host a conference call at 5:00 PM (ET) to discuss these results. Investors can join the call by calling 1-877-300-8521 domestically or 1-412-317-6026 internationally. A replay will be available post-call until March 1, 2021. Cannae Holdings focuses on actively managing a portfolio of investments. Key holdings include Dun & Bradstreet (18% ownership) and Ceridian (9.5% ownership), both pivotal to its strategy for financial performance.
Cannae Holdings (NYSE:CNNE) announced a $250 million investment in the merger between Foley Trasimene Acquisition Corp. (NYSE: WPF) and Alight Solutions. This addition to a prior $150 million forward purchase will bring Cannae's total investment to approximately $405 million, translating to an implied cost per share of $8.96 for 44.6 million shares and 8.0 million warrants. The merger values Alight at around $7.3 billion and is expected to close in Q2 2021. The transaction aims to enhance Cannae's portfolio with Alight's diversified revenue streams.
Cannae Holdings, Inc. (NYSE: CNNE) has announced a $350 million investment in the merger of Foley Trasimene Acquisition Corp. II and Paysafe Group, expanding its total stake in the deal to approximately $500 million. This includes a forward purchase agreement of $150 million. The merger, which values Paysafe at an implied $9 billion, is expected to close in the first half of 2021, pending stockholder approval and regulatory conditions. Cannae will receive over 54 million common shares and 8 million warrants, positioning it significantly in the emerging payments sector.
Cannae Holdings, Inc. (NYSE:CNNE) announced the promotion of David Ducommun to President, effective January 1, 2021, succeeding Brent Bickett, who transitions to Strategic Advisor. Ducommun, previously Executive Vice President, Corporate Finance, has over 20 years of experience, including roles in mergers and acquisitions at FNF and Bank of America. Chairman William P. Foley, II congratulated Ducommun for his leadership and contributions, emphasizing the company's focus on strategic investments for growth.
Cannae Holdings, Inc. (NYSE:CNNE) announced the transition of Brent B. Bickett from President to Senior Advisor, effective December 31, 2020. Chairman William P. Foley II praised Bickett for his 21 years of service, particularly in M&A leadership. Bickett expressed gratitude for his time at Cannae and enthusiasm for his new role, which will include assisting in ongoing investments and pursuing independent opportunities. Cannae focuses on managing companies and assets to enhance financial performance, with major holdings including approximately 18% in Dun & Bradstreet and 9.5% in Ceridian.
Senator Investment Group and Cannae Holdings, Inc. (NYSE: CNNE) have requested CoreLogic, Inc. (NYSE: CLGX) to set a record date for a potential solicitation to remove and replace six directors. This action aims to hold CoreLogic accountable amid what they describe as unexplainable delays in the company's decision-making process. If necessary, they could initiate changes as early as December. Senator and Cannae currently own approximately 9.20% of CoreLogic's outstanding shares, representing a significant stakeholder interest.
Senator Investment Group LP and Cannae Holdings, Inc. (CNNE) announced that shareholders have voted to remove CoreLogic, Inc.'s longest-tenured directors and replace them with nominees from Senator and Cannae. Over 86% of the votes favored the new directors: W. Steve Albrecht, Wendy Lane, and Henry W. 'Jay' Winship. Additionally, approximately 50% of the votes supported the removal of CoreLogic Chairman Paul Folino. This decision reflects shareholder demand for increased engagement and value maximization from CoreLogic's Board.
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