Stock Track | SOHO HOUSE & CO INC Soars 38.49% in Pre-Market on Buyout Offer at 83% Premium

Stock Track

Dec 19, 2024

SOHO HOUSE & CO INC (SHCO) stock surged 38.49% in pre-market trading on Thursday, following the announcement that the company received an offer from a third-party consortium to acquire SOHO HOUSE & CO INC for $9.00 per share.

The buyout offer represents a staggering 83% premium over SHCO's closing price on Wednesday, December 18, 2024. The offer is contingent upon certain major shareholders, including Executive Chairman Ron Burkle and Yucaipa Companies, rolling over their equity interests as part of the transaction.

According to the company's press release, the offer stems from a strategic review undertaken by Yucaipa and its advisors, as they believe SOHO HOUSE & CO INC's inherent value is not reflected in its current share price. The board has formed a special independent committee to evaluate the proposal, although no assurances can be given that the review will result in a transaction being approved.

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