Cannae Boosts its Buyback Following DNB Sale – Buyback Wednesdays

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. 

Cannae Holdings is a holding company for multiple businesses headed by Bill Foley, a legendary CEO who returned to the helm of Cannae in 2024.

Cannae Holdings, Inc. (CNNE): $16.10

Market Cap: $1.01B

EV: $1.18B

Key Insights

• Cannae Holdings, founded by Bill Foley, often trades well below its fair value—currently, it is trading at a 46% discount to NAV.
• The return of Bill Foley as CEO adds leadership strength and strategic clarity.
• Cannae is shifting from public to private investments, focusing on cash-generating businesses to help close the valuation gap.

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