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, 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.
Cannae Holdings, Inc. (NYSE:CNNE) announced the sale of 2,139,227 shares of Ceridian HCM Holding Inc. at $93.00 per share, totaling approximately $198.9 million in gross proceeds. This transaction was executed under Rule 144 of the Securities Act of 1933. Cannae's strategic focus includes managing and operating a portfolio of companies, aiming for superior financial performance. The firm holds significant interests in Dun & Bradstreet and Ceridian, enhancing its investment portfolio.