Cannae facing pressure from Carronade Capital for shake-up, WSJ reports

Cannae Holdings (CNNE), which is led by billionaire investor and sports owner Bill Foley, is facing pressure from Carronade Capital Management to shake up its board and sell its investments in public stocks to focus on its private holdings such as European soccer teams, people familiar with the matter told The Wall Street Journal’s Ben Glickman. Carronade owns about 4.6% of Cannae and the firm confidentially nominated a slate of four directors in December and believes the company’s board isn’t sufficiently independent, the sources are reported to have said.