Cannae Holdings Sells 2M Ceridian HCM Holding Shares To Raise $175M

Cannae Holdings Inc CNNE has sold 2 million shares of portfolio company Ceridian HCM Holding Inc CDAY at $87.50 per share to raise $175 million.
The sale price signifies a 1.8% discount to Ceridian’s Thursday closing price of $89.14.
Cannae held $439.7 million in cash and equivalents as of March 31, 2021, and generated $6 million in operating cash flow.
Price action: CNNE shares are higher by 0.57% at $37.12, while CDAY shares are down by 1.51% at $87.79 on the last check Friday.

Posted In:

News Tech Media Briefs

Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.