JANA Agrees to Sell Additional 30% Stake to Cannae
NEW YORK, May 13, 2025 – Proskauer, a leading international law firm, today announced that it advised JANA Partners Management and certain of its related entities (collectively, “JANA”), an investment firm focused on creating value through shareholder engagement, on the expansion of its strategic relationship with Cannae Holdings, Inc. (NYSE: CNNE) (“Cannae”). At closing, Cannae will acquire an additional 30% ownership, increasing its ownership to 50% of JANA, in exchange for cash consideration at closing to the JANA partners and the potential to receive incremental payments upon the achievement of certain future “Assets Under Management”-based thresholds. The transaction is expected to close in the third quarter of 2025. JANA first partnered with Cannae in February 2024, also advised by Proskauer.
The Proskauer team was led by partners Kelli Moll and Cameron Clark (Private Funds) and partner Grant Darwin (M&A). It also included partner John Mahon and associate Charlie DeVaux (Private Funds); partner David Miller and associate Bowon Koh (Tax); partner Steve Peck and associates Taylor Robertson and Sean Donoghue (M&A); partner Seth Safra and associate David Deutsch (EBEC); and partner John Ingrassia (Antitrust).
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