Cannae to Allot $460 Million From Dun & Bradstreet Sale to Stock Buybacks, Dividends, Debt

MT Newswires Live
03-31

Cannae Holdings (CNNE) said Monday that it plans to use at least $460 million from the proceeds of the sale of its investment, Dun & Bradstreet (DNB), to buy back shares of its common stock, as well as to pay future dividends and retire existing debt.

Cannae said it expects to repurchase at least $300 million of its common stock, including a buyback through a tender offer shortly after the closing of the deal, which represents $632 million in expected cash proceeds to the company.

Cannae said it plans to retain $60 million of the proceeds to cover future quarterly dividends to shareholders, while also repaying the entire $101 million outstanding under its existing margin loan.

On Monday, private equity firm Clearlake Capital Group said it has agreed to acquire data provider Dun & Bradstreet in a deal valued at $7.7 billion. The deal is slated to be completed in Q3, Cannae said.

免责声明:投资有风险,本文并非投资建议,以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请,作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考,不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证,投资者应自行研究并在投资前寻求专业建议。

热议股票

  1. 1
     
     
     
     
  2. 2
     
     
     
     
  3. 3
     
     
     
     
  4. 4
     
     
     
     
  5. 5
     
     
     
     
  6. 6
     
     
     
     
  7. 7
     
     
     
     
  8. 8
     
     
     
     
  9. 9
     
     
     
     
  10. 10