Cannae Holdings Acquires Minority Stake in JANA Partners

February 21, 2024

Cannae Holdings entered a strategic partnership with activist investment firm JANA Partners by acquiring a minority equity stake from JANA's principals in exchange for 1.85 million shares of Cannae common stock and $18.3 million in cash. Cannae also committed to invest at least $50 million into JANA funds and will partner with JANA to source control acquisitions and expand its industry operator network; the transaction includes voting arrangements and customary lock-ups.

Buyers
Cannae Holdings, Inc.
Targets
JANA Partners
Sellers
Barry Rosenstein, Scott Ostfeld
Location
New York, United States
Transaction Type
Growth capital

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