Cannae Holdings (CNNE) agreed to acquire an additional 30% stake in JANA Partners for $67.5 million, raising its ownership to 50%.
Cannae may pay an additional $26 million, contingent on JANA Partners meeting assets under management targets.
The deal is expected to close in Q3, Cannae said Monday in a statement.
The company's shares fell 2.8% in after-hours trading.
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