Data provider Dun & Bradstreet explores sale, sources say

Dun & Bradstreet Holdings

02/08/2024 20:21

(Adds Cannae roll in paragraph 3, share reaction in paragraph
6, background on the company in paragraphs 7-9)
    By Milana Vinn, Anirban Sen and David French
       NEW YORK, Aug 2 (Reuters) - Dun & Bradstreet  DNB.N , a
U.S. data and analytics provider that has a market value of more
than $9 billion including debt, is exploring options including a
potential sale, people familiar with the matter said on Friday. 
    The Jacksonville, Florida-based company is working with
investment bankers at Bank of America  BAC.N  to evaluate
takeover interest from potential buyers, which include private
equity firms, the sources said.
    Cannae Holdings  CNNE.N , the company's largest shareholder
with 15.6%, could roll its stake as part of any sale, one of the
sources said. This could help facilitate a deal by lowering the
overall purchase price.
    The sources, who requested anonymity because the matter is
confidential, cautioned that no deal is certain.
    Bank of America declined to comment. Dun & Bradstreet and
Cannae did not immediately respond to requests for comment.
    Dun & Bradstreet's stock rose as much as 23% to $12.66 per
share on the news, the highest trading level since February
2023. In mid-afternoon trading, it was up 19% to $12.24, giving
the company a market value of $5.4 billion. The company also had
total debt, as of the end of June, of about $3.7 billion. 
    Dun & Bradstreet, which traces its origins to 1841, is one
of Wall Street's oldest data and analytics providers. It
currently serves about 135,000 businesses, including 90% of the
Fortune 500 companies, according to its website.  
    Dun & Bradstreet listed its shares in New York in 2020, less
than two years after an investor consortium led by CC Capital,
Cannae and Thomas H. Lee Partners took it private. 
    The company's shares had lost nearly 62% of their value
between its initial public offering and Thursday's close, as its
debt pile limited its ability to invest in its business and
profitability suffered while bigger rivals, such as Equifax
 EFX.N , Experian  EXPN.L  and TransUnion  TRU.N , made gains.

 (Reporting by Milana Vinn, Anirban Sen and David French in New
York; Editing by Susan Fenton and Nick Zieminski)
 ((Anirban.Sen@thomsonreuters.com; Twitter: @asenjourno; Reuters
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