Reported 2 days ago
Soho House & Co Inc. shares surged following an announcement that a consortium has offered to purchase the company for $9 per share, an 83% premium over its previous closing price. This dramatic increase saw shares rise as much as 65% in intraday trading, marking their highest point in over a year. The buyout proposal is endorsed by major shareholders including Executive Chair Ron Burkle, who has been advocating for a privatization effort amidst declining stock performance since its IPO in 2021. The company's board is currently evaluating the offer through an independent committee.
Source: YAHOO