Cannae Holdings eyes participating in deal for Rapid7, quits group with activist
NEW YORK - Cannae Holdings plans to hold talks about participating in a deal to acquire Rapid7 and will stop working with the activist investor that has been urging the cybersecurity company to put itself up for sale, according to a regulatory filing.
Hedge fund Jana Partners and publicly traded holding company Cannae have "de-grouped" and will no longer be coordinating actions concerning Rapid7, the firm said in the filing made on Wednesday. This step will allow Cannae to engage in confidential discussions with Rapid7 and other potential buyers without involving Jana.
Jana has an economic interest of more than 12% and owns 5.8% of the voting shares of Rapid7. Since June, when the activist first unveiled its investment, Jana has been urging the Boston-headquartered company to improve its operations and forecasting and to consider selling itself. Cannae, which is led by billionaire Bill Foley, currently has operating interests in Dun & Bradstreet Holdings and Alight. Jana said in a filing in June that it was working with Cannae and that the plan was for Cannae to potentially participate in an acquisition of the company.Rapid7 specializes in so-called vulnerability management, providing software tools and services that help businesses assess and monitor security risks.
پاکستان تازہ ترین خبریں, پاکستان عنوانات
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