Dun & Bradstreet shareholders overwhelmingly approve $7.7 billion buyout (Courtesy of the Jacksonville Daily Record) — While the price might have been lower than some had hoped, Dun & Bradstreet Holdings Inc. shareholders overwhelmingly approved the Jacksonville-based business data firm’s $7.7 billion buyout deal with Clearlake Capital Group, L.P. at a virtual special meeting June 12.
According to a Securities and Exchange Commission filing, 345.9 million shares of Dun & Bradstreet were voted in favor of the deal and only 3 million were opposed.
Dun & Bradstreet announced the deal March 24 in which Clearlake will pay $9.15 per share to acquire the company.
That is well below Dun & Bradstreet’s initial public offering price of $22 a share in July 2020. It was also below its closing price of $10.29 on Aug. 1, 2024, before news leaked out that the company was talking to potential buyers.
The agreement was subject to a 30-day go-shop period for a possible higher offer but no other bids were made.
Dun & Bradstreet’s largest shareholder, Cannae Holdings Inc., pledged to support the deal with Clearlake when the agreement was signed.
Cannae, which owns 13.5% of the stock, is the investment company spun off from Jacksonville-based Fidelity National Financial Inc.
Dun & Bradstreet’s SEC filing said it anticipates closing the buyout in the third quarter this year.
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