This month, we came across an interesting situation when Dun & Bradstreet (DNB) announced its $7.7 billion sale to Clearlake Capital. Cannae Holdings, which owns nearly 16% of DNB, didn’t just back the deal but also rolled out a significant share buyback equal to 16% of its entire market cap. So I decided to take a closer look to understand what’s driving Cannae’s strategy.
We recently covered Cannae in our Special Situations Report Podcast and had previously covered it in our April 2022 Mid-Month Update and also in an Insider Weekends post in October 2023.