Cannae Holdings, Inc. Announces Dun & Bradstreet’s Receipt of FCA Approval
LAS VEGAS--(BUSINESS WIRE)--Jan 17, 2019--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 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 Inc., 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.
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Jamie Lillis, Managing Director, Solebury Trout, 203-428-3223,firstname.lastname@example.org
KEYWORD: UNITED STATES NORTH AMERICA NEVADA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES FINANCE
SOURCE: Cannae Holdings, Inc.
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PUB: 01/17/2019 09:02 AM/DISC: 01/17/2019 09:02 AM