Bill Foley's Cannae rises after investment firm Carronade pushes for shake up

Shares of investment firm Cannae Holdings CNNE.N, led by American businessman Bill Foley, rise 4.8% to $17.80

Carronade Capital, which owns about 2.9 million shares of CNNE and is one of the company's top shareholders, launches boardroom battle at Cannae raising concerns over underperformance

Carronade nominates four director candidates for election at the 2025 annual meeting, says CNNE share price could have upside of at least 50%

Investor pushing for CNNE to sell down positions in public companies and return that capital to shareholders

CNNE, which was spun out of Fidelity National Financial FNF.N in 2017, has investments in data and analytics provider Dun & Bradstreet DNB.N, employee benefits service provider Alight ALIT.N and payments platform Paysafe PSFE.N

CNNE stock down 21% in last 12 months