Cannae Holdings reported its quarterly earnings last week, and disclosed it sold 8.5 million Dun & Bradstreet shares June 28 for $21.88 a share, but the company remains Cannae’s largest investment. Dun & Bradstreet’s April proxy statement said Cannae owned 76.6 million shares, or 17.8% of the stock.
Cannae Chairman Bill Foley said in the company’s conference call that Cannae is working with Dun & Bradstreet to seek out possible acquisitions.
“To supplement the building organic momentum, we will also be on the lookout for strong targets that can complement the existing D&B assets and drive further revenue acceleration,” said Foley, who is also chairman of Dun & Bradstreet and Fidelity.
“Anthony Jabbour has also brought in new senior leaders this past quarter and I’m confident the business plans they have laid out will drive growth,” he said.
While not an acquisition, Black Knight has made a significant investment in Dun & Bradstreet Holdings Inc., owning 54.8 million shares, or 12.7% of the stock.
Black Knight CEO Anthony Jabbour also is CEO of Dun & Bradstreet, which is moving its headquarters to Jacksonville and has recently bought shares in D&B.
Investment company Cannae Holdings Inc., which like Black Knight was spun off from Jacksonville-based Fidelity National Financial Inc., is another large investor in Dun & Bradstreet.
Source: Jaxdailyrecord.com
