Soho House dissolves panel set up to evaluate potential take-private offer
31/05/2024 13:22
May 31 (Reuters) - Soho House Co SHCO.N said on Friday
that its board has dissolved a special committee that had been
set up to evaluate certain strategic deals, including the
possibility of going private.
The company said it had received interest from a party whose
proposal was dependent on certain Class B shareholders rolling
over their equity in the company as part of a deal.
Although the offer was at a substantial premium over the
current trading price of the company's stock, the panel rejected
the offer as it did not adequately reflect the value of the
company.
Soho House provides a global membership platform of physical
and digital spaces across the world. The company, which is
valued at about $1.05 billion, said it could re-establish the
committee again, if needed.
(Reporting by Ananta Agarwal in Bengaluru; Editing by Shailesh
Kuber)
((Ananta.agarwal@thomsonreuters.com;))