Cannae Holdings Announces Major Capital Return Initiative Following Asset Sale

Shares of Cannae Holdings demonstrated notable resilience despite a minor pullback in the latest trading session. The stock closed at $19.07, marking a 1.14% decline, after fluctuating within a 2.65% range throughout the day. However, the equity has posted a solid 2.14% gain over a two-week period, indicating underlying investor confidence.

A significant corporate development is set to reshape the company’s financial landscape. Cannae anticipates receiving approximately $630 million in proceeds from the divestiture of its stake in Dun & Bradstreet. Management has outlined a clear and aggressive strategy for deploying this substantial capital influx, prioritizing direct returns to shareholders and balance sheet strengthening.

The board has authorized a $300 million share repurchase program. This initiative is a clear move to enhance per-share... Read more...