By Milana Vinn, Anirban Sen and David French
NEW YORK (Reuters) -Dun & Bradstreet, a U.S. data and analytics provider that has a market value of more than $9 billion including debt, is exploring options including a potential sale, people familiar with the matter said on Friday.
The Jacksonville, Florida-based company is working with investment bankers at Bank of America to evaluate takeover interest from potential buyers, which include private equity firms, the sources said.
Cannae Holdings (N:CNNE), the company's largest shareholder with 15.6%, could roll its stake as part of any sale, one of the sources said. This could help facilitate a deal by lowering the overall purchase price.
The sources, who requested anonymity because the matter is confidential, cautioned that no deal is certain.
Bank of America declined to comment. Dun & Bradstreet (NYSE:DNB_old) and Cannae did not immediately respond to requests for comment.
Dun & Bradstreet's stock rose as much as 23% to $12.66 per share on the news, the highest trading level since February 2023. In mid-afternoon trading, it was up 19% to $12.24, giving the company a market value of $5.4 billion. The company also had total debt, as of the end of June, of about $3.7 billion.
Dun & Bradstreet, which traces its origins to 1841, is one of Wall Street's oldest data and analytics providers. It currently serves about 135,000 businesses, including 90% of the Fortune 500 companies, according to its website.
Dun & Bradstreet listed its shares in New York in 2020, less than two years after an investor consortium led by CC Capital, Cannae and Thomas H. Lee Partners took it private.
The company's shares had lost nearly 62% of their value between its initial public offering and Thursday's close, as its debt pile limited its ability to invest in its business and profitability suffered while bigger rivals, such as Equifax (NYSE:EFX), Experian (OTC:EXPGF) and TransUnion (NYSE:TRU), made gains.