CNNE - Cannae Holdings buys back 5.78M shares from Fidelity National Financial

Cannae Holdings (NYSE:CNNE) repurchased ~5.78M shares of its common stock from Fidelity National Financial (NYSE:FNF) at an average price of $18.81 per share through a series of transactions executed at a discount, the company said Tuesday. That adds up to a purchase price of about $108.6M. "Buying our shares from FNF further demonstrates our commitment to our shareholders by aggressively repurchasing our shares while also removing an overhang that existed given FNF’s requirement to sell these shares by November 2022," said Cannae (CNNE) Chairman William P. Foley, II. YTD, the company has bought back ~6.8M common share, representing 7.8% of its shares outstanding as of Dec. 31, 2021. It currently has ~2.71M shares left under its share  repurchase authorization. Cannae (CNNE) reinstated its stock repurchase program in December.

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Cannae Holdings buys back 5.78M shares from Fidelity National Financial