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. (symbol: CNNE) is a principal investment firm headquartered in Las Vegas, Nevada. Specializing in a diverse array of sectors including restaurants, technology-enabled healthcare services, and financial services, Cannae Holdings takes both minority and majority stakes in its investments. The company operates through several reportable segments including the Restaurant Group, Dun & Bradstreet, Alight, BKFE, and Corporate and Other Affiliate Elimination.
The Restaurant Group segment, which includes operations of O'Charley's and Ninety Nine Restaurants, constitutes a significant portion of the company's revenue. This segment underscores Cannae's strategic focus on consumer-facing businesses and its ability to manage large-scale restaurant operations effectively.
In the technology and financial services sector, Cannae Holdings has substantial investments in companies like Dun & Bradstreet and Alight. These investments highlight the company's commitment to leveraging data analytics and human capital management solutions to drive value creation. Dun & Bradstreet, a leader in commercial data and analytics, and Alight, known for its comprehensive human resources and business solutions, are pivotal to the company's diversified portfolio.
Cannae Holdings continues to seek new opportunities for growth and value maximization through strategic acquisitions and partnerships. The firm's flexible investment approach allows it to adapt to market changes and capitalize on emerging trends. With a solid financial foundation and a proactive management team, Cannae Holdings is well-positioned for continued success in its various business ventures.
Recent achievements and ongoing projects demonstrate the company's dynamic nature and its ability to enhance shareholder value through thoughtful investment strategies. As Cannae Holdings navigates the complex investment landscape, it remains focused on building a robust portfolio that delivers sustainable returns.
Cannae Holdings and Trasimene Capital Management, sponsors of Austerlitz Acquisition Corporation II (ASZ), are seeking shareholder approval to redeem Class A ordinary shares for cash held in trust before December 31, 2022. Due to difficulties in securing a merger partner, the sponsors believe returning cash is in shareholders' best interests instead of waiting until ASZ's expiration on March 2, 2023. Currently, the trust holds $1,380 million, with expected return of $10.00 per share.
Cannae Holdings, Inc. (NYSE: CNNE) and Trasimene Capital Management are proposing to redeem Austerlitz Acquisition Corporation I's (NYSE: AUS) outstanding Class A ordinary shares before the 24-month deadline of March 2, 2023. With $690 million in trust, shareholders are expected to receive $10.00 per share. After extensive searches for merger partners, the Sponsors believe a successful merger is unlikely, prompting the decision to return funds instead of waiting for potential expiration. A special shareholder meeting is planned for November 2022 to vote on the redemption.
Paysafe Limited (NYSE: PSFE) disclosed that Cannae Holdings, Inc. (NYSE: CNNE) purchased approximately 5.7 million shares of its common stock for about $22.2 million in December 2021. This acquisition increased Cannae's holdings to 59,758,641 shares, representing 8.26% of Paysafe's outstanding shares. The announcement follows a previous report of Paysafe leadership purchasing approximately 737,000 shares in late 2021. The transaction aims to reflect Cannae's confidence in the direction of Paysafe.
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