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
- Industry
- Financial Services
- Location
- New York, United States
- Transaction Type
- Growth capital
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