Third Point's Loeb pushes for 'fair' sales process at SoHo House
29/01/2025 13:09
By Svea Herbst-Bayliss
NEW YORK, Jan 29 (Reuters) - Daniel Loeb, who runs hedge
fund Third Point, on Wednesday urged SoHo House directors to run
a "fair" sales process after the hospitality group received a
take-private offer late last year that sent its stock price
surging.
He called the $9 a share offer a "sweetheart" deal and said
he believed there were other parties with experience investing
in the hospitality sector who would be interested in the asset,
according to a letter Loeb wrote to SoHo House's board.
He called the sales procedure so far "an opaque process" and
urged the board to achieve "maximum value for all shareholders."
(Reporting by Svea Herbst-Bayliss
Editing by Bernadette Baum)
((svea.herbst@thomsonreuters.com; +617 233 2138; Reuters
Messaging: svea.herbst.thomsonreuters.com@reuters.net))