Market Overview

Dun & Bradstreet Enters Into a Definitive Agreement to Be Acquired by Investor Group Led by CC Capital, Cannae Holdings and Thomas H. Lee Partners


Dun & Bradstreet Shareholders to Receive $145.00 per Share in Cash

Transaction Valued at $6.9 Billion

Dun & Bradstreet (NYSE:DNB) (the "Company"), the global leader in
commercial data, analytics and insights for businesses, today announced
that it has entered into a definitive merger agreement to be acquired by
an investor group (the "Investor Group") led by CC Capital, Cannae
Holdings and funds affiliated with Thomas H. Lee Partners, L.P. ("THL"),
along with a group of other distinguished investors.

Under the terms of the agreement, which has been unanimously approved by
Dun & Bradstreet's Board of Directors, Dun & Bradstreet shareholders
will receive $145.00 in cash for each share of common stock they own, in
a transaction valued at $6.9 billion including the assumption of $1.5
billion of Dun & Bradstreet's net debt and net pension obligations.

The purchase price represents a premium of approximately 30% over Dun &
Bradstreet's closing share price of $111.63 on February 12, 2018, the
last day of trading prior to Dun & Bradstreet's announcement of a
strategic review and an indication of its willingness to consider all
options for value creation.

Thomas J. Manning will lead the Company as Chief Executive Officer
through the closing of the transaction. James N. Fernandez, a director
of the Company since 2004 and Lead Director since February 2018, will
serve as Chairman of the Board through the closing of the transaction.

"Today's announcement is the culmination of a thoughtful and
comprehensive review of the value creation opportunities available to
the Company as part of a full portfolio and business assessment and
exploration of strategic alternatives with multiple financial sponsors.
As a result of this process, the Dun & Bradstreet Board of Directors
unanimously determined that this all-cash transaction with the Investor
Group is in the best interest of our shareholders and our Company," said
Mr. Manning.

Chinh Chu, Senior Managing Director and Founder of CC Capital, stated,
"Dun & Bradstreet is a high-quality business with a 177-year history of
serving its global customer base. We look forward to working with our
partners and Dun & Bradstreet's talented team to unlock the immense
potential within this venerable company."

William P. Foley II, Chairman of Cannae Holdings, said, "In an
increasingly data-driven world, Dun & Bradstreet's insight-driven
business model and interconnectivity across industries has positioned
the Company for continued success. We are excited to grow the Company,
increase operating efficiencies and improve the Dun & Bradstreet
customer experience by providing enhanced business solutions."

Thomas Hagerty, a Managing Director at THL added, "We are honored to
partner with an established leader in the commercial data and insight
industry with a long history of excellence in helping customers and
partners around the globe. As a private company, Dun & Bradstreet will
be well positioned to reinvigorate growth and create increased value for
all stakeholders."

The transaction will be financed through a combination of committed
equity financing provided by the Investor Group, as well as debt
financing that has been committed to by BofA Merrill Lynch, Citigroup
Inc., and RBC Capital Markets.

The merger agreement provides for a "go-shop" period, during which Dun &
Bradstreet – with the assistance of J.P. Morgan – will actively solicit,
evaluate and potentially enter into negotiations with and provide due
diligence access to parties that offer alternative proposals. The
go-shop period is 45 days. Dun & Bradstreet will have the right to
terminate the merger agreement to enter into a superior proposal subject
to the conditions and procedures specified in the merger agreement,
which Dun & Bradstreet will be filing presently on Form 8-K. There can
be no assurance this process will result in a superior proposal. Dun &
Bradstreet does not intend to disclose developments about this process
unless and until its Board of Directors has made a decision with respect
to any potential superior proposal.

The transaction is expected to close within six months, subject to Dun &
Bradstreet shareholder approval, regulatory clearances and other
customary closing conditions. The Dun & Bradstreet Board is unanimously
recommending that shareholders vote to adopt the merger agreement at an
upcoming special meeting of the shareholders.

Upon the completion of the transaction, Dun & Bradstreet will become a
privately held company and shares of Dun & Bradstreet common stock will
no longer be listed on any public market.

J.P. Morgan is serving as financial advisor to Dun & Bradstreet, and
Cleary Gottlieb Steen & Hamilton LLP is serving as legal counsel.

Financial advisors to the buyer include BofA Merrill Lynch, Citigroup
Inc., and RBC Capital Markets. Citigroup Inc. is acting as sole equity
private placement agent to the buyer. Kirkland & Ellis LLP is acting as
legal advisor to the buyer.

Second Quarter 2018 Teleconference Update

Dun & Bradstreet will also announce today its second quarter 2018
results, which will be available on the "Investor Relations" section of
the Dun & Bradstreet website at
In light of the announced transaction, the earnings conference call
scheduled for August 9, 2018 at 8 a.m. ET will no longer take place.

About Dun & Bradstreet

Dun & Bradstreet helps companies around the world improve their business
performance. The global leader in commercial data and analytics, we
glean insight from data to enable our customers to connect with the
prospects, suppliers, clients and partners that matter most. Since 1841,
companies of every size rely on Dun & Bradstreet to help them manage
risk and reveal opportunity.

About CC Capital

CC Capital is a private investment firm founded in 2016 by Chinh Chu,
with a focus on investing in and operating high-quality companies for
the long term. Prior to founding CC Capital, Mr. Chu had a successful
25-year career at Blackstone and played an instrumental role in building
its Private Equity business. Over the course of his career at
Blackstone, Mr. Chu led several industry verticals for the Private
Equity group, including financial services, technology, chemicals, and
healthcare products. He served as co-chairman of the firm's Private
Equity Investment Committee and served on the firm's Executive
Committee. More information about CC Capital can be found at

About Cannae Holdings, Inc.

Cannae is a diversified holding company with over $1 billion in book
value in assets and boasts a strong track record of investing in a
diverse range of assets. Cannae holds majority and minority equity
investment stakes in a number of entities, including Ceridian Holdings,
LLC, American Blue Ribbon Holdings, LLC and T-System Holding LLC.
Principals at Cannae have successfully acquired over 100 companies with
aggregate consideration in excess of $30 billion for Fidelity National
Financial. Inc., Cannae and related companies over the last 20 years.
More information about Cannae can be found at

About Thomas H. Lee Partners, L.P.

Thomas H. Lee Partners, L.P. is a premier private equity firm investing
in growth companies, headquartered in North America, exclusively in four
industry sectors: Business & Financial Services, Consumer & Retail,
Healthcare, and Media, Information Services & Technology. Using the
firm's deep domain expertise and the internal operating capabilities of
its Strategic Resource Group, THL seeks to create deal sourcing
advantages, and to accelerate growth and improve operations in its
portfolio companies in partnership with management teams. Since its
founding in 1974, THL has raised over $22 billion of equity capital,
acquired over 140 portfolio companies and completed over 360 add-on
acquisitions which collectively represent a combined enterprise value at
the time of acquisition of over $200 billion.

Forward-Looking Statements

This press release includes "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended. These
forward-looking statements are often identified by words such as
"anticipate," "approximate," "believe," "commit," "continue," "could,"
"estimate," "expect," "future," "goal," "guidance," "hope," "intend,"
"may," "outlook," "plan," "project," "potential," "should," "would,"
"will," and other similar words or expressions.

Such forward-looking statements are inherently uncertain, and
stockholders and other potential investors must recognize that actual
results may differ materially from the Company's expectations as a
result of a variety of factors. Such forward-looking statements are
based upon management's current expectations and include known and
unknown risks, uncertainties and other factors, many of which the
Company is unable to predict or control, that may cause the Company's
actual results, performance, or plans to differ materially from any
future results, performance or plans expressed or implied by such
forward-looking statements. Risks and uncertainties related to the
proposed transactions include, but are not limited to, the occurrence of
any event, change or other circumstance that could give rise to the
termination of the merger agreement; the failure of the parties to
satisfy conditions to completion of the proposed Transaction, including
the failure of the Company's stockholders to approve the proposed
Transaction or the failure of the parties to obtain required regulatory
approvals; the risk that regulatory or other approvals are delayed or
are subject to terms and conditions that are not anticipated; reliance
on third parties to support critical components of the Company's
business model; the Company's ability to protect its information
technology infrastructure against cyber attack and unauthorized access;
risks associated with potential violations of the Foreign Corrupt
Practices Act and similar laws; customer demand for the Company's
products; risks associated with recent changes in the Company's
executive management team and Board of Directors; the integrity and
security of the Company's global databases and data centers; the
Company's ability to maintain the integrity of its brand and reputation;
the Company's ability to renew large contracts and the related revenue
recognition and timing thereof; the impact of macroeconomic challenges
on the Company's customers and vendors; future laws or regulations with
respect to the collection, compilation, storage, use, cross-border
transfer, publication and/or sale of information and adverse publicity
or litigation concerning the commercial use of such information; the
Company's ability to acquire and successfully integrate other
businesses, products and technologies; adherence by third-party members
of Dun & Bradstreet Worldwide Network, or other third parties who
license and sell under the Dun & Bradstreet name, to the Company's
quality standards and to the renewal of their agreements with Dun &
Bradstreet; the effects of foreign and evolving economies, exchange rate
fluctuations, legislative or regulatory requirements and the
implementation or modification of fees or taxes to collect, compile,
store, use, transfer cross-border, publish and/or sell data; the impact
of the announcement of, or failure to complete, the proposed Transaction
on our relationships with employees, customers, suppliers, vendors and
other business partners; and potential or actual litigation. In
addition, these statements involve risks, uncertainties, and other
factors detailed from time to time in the Company's Annual Report on
Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form
8-K filed or furnished with the Securities and Exchange Commission (the

Many of these factors are beyond the Company's control. The Company
cautions investors that any forward-looking statements made by the
Company are not guarantees of future performance. The Company disclaims
any obligation to update any such factors or to announce publicly the
results of any revisions to any of the forward-looking statements to
reflect future events or developments.

Additional Information and Where to Find It

The Company will file with the SEC and mail to its stockholders a proxy
statement in connection with the proposed Transaction. We urge investors
and security holders to read the proxy statement when it becomes
available because it will contain important information regarding the
proposed Transaction. You may obtain a free copy of the proxy statement
(when available) and other related documents filed by the Company with
the SEC at the SEC's website at
You also may obtain the proxy statement (when it is available) and other
documents filed by the Company with the SEC relating to the proposed
Transaction for free by accessing the Company's website at
by clicking on the link for "Investor Relations", then clicking on the
link for "Financial Information" and selecting "Annual Reports and

Participants in the Solicitation

The Company and its directors and executive officers may be deemed to be
participants in the solicitation of proxies from the Company's
stockholders in connection with the proposed Transaction. Information
regarding the interests of these directors and executive officers in the
proposed Transaction will be included in the proxy statement when it is
filed with the SEC. You may find additional information about the
Company's directors and executive officers in the Company's proxy
statement for its 2018 Annual Meeting of Stockholders, which was filed
with the SEC on March 27, 2018. You can obtain free copies of these
documents from the Company using the contact information above.

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