[January 17, 2019] |
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Cannae Holdings, Inc. Announces Dun & Bradstreet's Receipt of FCA Approval
Cannae Holdings, Inc. (NYSE:CNNE) ("Cannae" or the "Company") today
announced that the Financial Conduct Authority (the "FCA") provided
notice in writing for the purposes of section 189 of the FSMA that it
has approved the change in control of Dun & Bradstreet (News - Alert) Limited ("Dun &
Bradstreet") applicable to Dun & Bradstreet's proposed merger
transaction with an investor group led by Cannae, CC Capital, Bilcar,
LLC, Black Knight, Inc. and funds affiliated with Thomas H. Lee
Partners, L.P. (the "Investor Group"). The receipt of FCA approval
satisfies the last remaining condition to the commencement of the
fifteen business day marketing period contemplated by the merger
agreement in order to permit the Investor Group to complete its debt
financing, which contractual marketing period began today and will end
on February 7, 2019, unless earlier waived.
The proposed merger transaction remains subject to certain other
customary closing conditions, and is expected to close no later than
February 11, 2019, two business days after expiration of the marketing
period.
About Cannae Holdings, Inc. Cannae
holds majority and minority equity investment stakes in a number of
entities, including Ceridian HCM Holding Ic., American Blue Ribbon
Holdings, LLC and T-System Holding LLC.
Forward-Looking Statements and Risk Factors This
press release contains forward-looking statements that involve a number
of risks and uncertainties. Statements that are not historical facts,
including statements regarding our expectations, hopes, intentions or
strategies regarding the future are forward-looking statements.
Forward-looking statements are based on management's beliefs, as well as
assumptions made by, and information currently available to, management.
Because such statements are based on expectations as to future financial
and operating results and are not statements of fact, actual results may
differ materially from those projected. We undertake no obligation to
update any forward-looking statements, whether as a result of new
information, future events or otherwise. The risks and uncertainties
which forward-looking statements are subject to include, but are not
limited to: changes in general economic, business and political
conditions, including changes in the financial markets; our potential
inability to find suitable acquisition candidates, acquisitions in lines
of business that will not necessarily be limited to our traditional
areas of focus, or difficulties in integrating acquisitions; significant
competition that our operating subsidiaries face; compliance with
extensive government regulation of our operating subsidiaries; risks
associated with our split-off from Fidelity National Financial, Inc.,
including limitations on our strategic and operating flexibility related
to the tax-free nature of the split-off and the Investment Company Act
of 1940; and the Investor Group's ability to consummate the proposed Dun
& Bradstreet merger, including the satisfaction of the closing
conditions thereto.
This press release should be read in conjunction with the risks detailed
in the "Statement Regarding Forward-Looking Information," "Risk Factors"
and other sections of the Company's Form 10-Q, 10-K and other filings
with the Securities and Exchange Commission.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190117005402/en/
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