An activist investment firm is targeting Cannae Holdings Inc., saying it may nominate four directors for the investment company spun off from Fidelity National Financial Inc.
Carronade Capital sent a letter to Cannae’s board of directors March 20 saying the company is underperforming and it will take its case to shareholders and nominate the four potential board members if changes are not enacted.
“Carronade Capital believes Cannae’s total shareholder return and corporate governance can be meaningfully improved, and significant opportunities exist to unlock substantial value for all shareholders,” the letter said.