Soho House & Co Inc. Announcement on Offer From a Third-party Consortium to Acquire the Company
Soho House & Co Inc. (NYSE: SHCO) has received a $9.00 per share acquisition offer from a third-party consortium, representing an 83% premium over the December 18, 2024 closing price. The offer is contingent on major shareholders, including Executive Chairman Ron Burkle and The Yucaipa Companies, maintaining their equity interests through a rollover arrangement.
The proposal emerged from Yucaipa's strategic review aimed at enhancing shareholder value, as they believe SHCO's current share price doesn't reflect its true value. In response, the Board has formed an independent Special Committee to evaluate the offer. The company has stated that no further public comments will be made until a specific transaction is approved or the review concludes.
Soho House & Co Inc. (NYSE: SHCO) ha ricevuto un offerta di acquisizione di $9,00 per azione da un consorzio di terzi, che rappresenta un premium dell'83% rispetto al prezzo di chiusura del 18 dicembre 2024. L'offerta è condizionata al fatto che i principali azionisti, tra cui il presidente esecutivo Ron Burkle e The Yucaipa Companies, mantengano i loro interessi azionari tramite un accordo di rollover.
La proposta è emersa dalla revisione strategica di Yucaipa volta a migliorare il valore per gli azionisti, poiché ritengono che il prezzo attuale delle azioni di SHCO non rifletta il suo vero valore. In risposta, il Consiglio ha formato un Comitato Speciale indipendente per valutare l'offerta. L'azienda ha dichiarato che non verranno rilasciate ulteriori dichiarazioni pubbliche fino all'approvazione di una transazione specifica o fino alla conclusione della revisione.
Soho House & Co Inc. (NYSE: SHCO) ha recibido una oferta de adquisición de $9.00 por acción de un consorcio externo, lo que representa un premio del 83% sobre el precio de cierre del 18 de diciembre de 2024. La oferta está condicionada a que los principales accionistas, incluido el presidente ejecutivo Ron Burkle y The Yucaipa Companies, mantengan sus participaciones a través de un acuerdo de rollover.
La propuesta surgió de la revisión estratégica de Yucaipa destinada a aumentar el valor para los accionistas, ya que creen que el precio actual de la acción de SHCO no refleja su verdadero valor. En respuesta, la Junta ha formado un Comité Especial independiente para evaluar la oferta. La empresa ha declarado que no se emitirán más comentarios públicos hasta que se apruebe una transacción específica o concluya la revisión.
Soho House & Co Inc. (NYSE: SHCO)는 제3자 컨소시엄으로부터 주당 $9.00의 인수 제안을 받았으며, 이는 2024년 12월 18일 마감 가격에 비해 83%의 프리미엄을 의미합니다. 이 제안은 주요 주주들이 롤오버 계약을 통해 지분을 유지할 것을 조건으로 하고 있습니다.
이 제안은 주주 가치를 증대시키기 위한 Yucaipa의 전략적 검토에서 나왔으며, 그들은 SHCO의 현재 주가가 진정한 가치를 반영하지 않는다고 믿고 있습니다. 이에 따라 이사회는 해당 제안을 평가하기 위해 독립적인 특별 위원회를 구성했습니다. 회사는 특정 거래가 승인되거나 검토가 완료될 때까지 추가적인 공적인 언급은 없을 것이라고 밝혔습니다.
Soho House & Co Inc. (NYSE: SHCO) a reçu une offre d'acquisition de 9,00 $ par action d'un consortium tiers, représentant un premium de 83% par rapport au prix de clôture du 18 décembre 2024. L'offre est subordonnée au fait que les principaux actionnaires, y compris le président exécutif Ron Burkle et The Yucaipa Companies, maintiennent leurs intérêts en actions via un accord de rollover.
La proposition est le résultat de l'examen stratégique de Yucaipa visant à améliorer la valeur pour les actionnaires, car ils estiment que le prix actuel de l'action de SHCO ne reflète pas sa véritable valeur. En réponse, le Conseil a formé un Comité Spécial indépendant pour évaluer l'offre. La société a déclaré qu'aucun commentaire public supplémentaire ne sera fait tant qu'une transaction spécifique n'est pas approuvée ou que l'examen ne soit pas conclu.
Soho House & Co Inc. (NYSE: SHCO) hat ein Übernahmeangebot von $9,00 pro Aktie von einem externen Konsortium erhalten, was einen Aufschlag von 83% gegenüber dem Schlusskurs vom 18. Dezember 2024 darstellt. Das Angebot ist daran gebunden, dass die Hauptaktionäre, einschließlich des Vorstandsvorsitzenden Ron Burkle und der Yucaipa Companies, ihre Aktienanteile durch eine Roll-over-Vereinbarung aufrechterhalten.
Der Vorschlag entstand aus Yucaipas strategischer Prüfung zur Verbesserung des Shareholder-Values, da sie der Meinung sind, dass der aktuelle Aktienkurs von SHCO nicht seinen tatsächlichen Wert widerspiegelt. Als Reaktion darauf hat der Vorstand einen unabhängigen Sonderausschuss gebildet, um das Angebot zu bewerten. Das Unternehmen erklärte, dass keine weiteren öffentlichen Kommentare abgegeben werden, bis eine spezielle Transaktion genehmigt wird oder die Überprüfung abgeschlossen ist.
- Acquisition offer represents 83% premium to current share price
- Major shareholders support the acquisition proposal
- Strategic review indicates potential for unlocking shareholder value
- Current market valuation significantly below company's perceived value
- Deal completion uncertainty due to conditions on shareholder equity rollover
- transparency during evaluation process
Insights
The $9.00 per share acquisition offer represents a substantial
The transaction's complexity lies in its conditional nature and the involvement of major stakeholders. The rollover requirement indicates the consortium sees long-term value potential beyond the current market price, while also potentially limiting competing bids. The premium offered is notably higher than typical M&A premiums in the hospitality sector, which usually range between
This deal structure reflects classic private equity strategy - taking advantage of public market inefficiencies where intrinsic value exceeds trading price. With a market cap of
- Ensures alignment of interests post-transaction
- Reduces the cash consideration needed from the acquiring consortium
- Maintains institutional knowledge and operational continuity
The timing of this offer, coming through a strategic review initiated by Yucaipa, indicates a well-planned approach to maximize value capture. The premium offered suggests the consortium sees substantial upside potential through operational improvements and strategic initiatives that may be better executed in a private setting.
The formation of an independent Special Committee is important for ensuring fair treatment of minority shareholders and managing potential conflicts of interest. The involvement of Executive Chairman Ron Burkle and Yucaipa in both supporting the offer and potentially rolling over their equity creates a complex governance scenario that requires careful oversight. The Special Committee's role will be vital in:
- Evaluating the fairness of the offer price
- Assessing alternative strategic options
- Ensuring compliance with fiduciary duties
The Board's approach to this offer demonstrates proper corporate governance practices, particularly in establishing independence in the evaluation process. This structure helps mitigate risks associated with interested-party transactions while protecting shareholder interests.
Earlier this week, the Board of Directors of Soho House & Co Inc. (the “Company”) received an offer from a new third-party consortium to acquire the Company for
The offer, which is supported by Ron Burkle and Yucaipa, was the result of a thorough strategic review undertaken by Yucaipa and its financial advisors to enhance shareholder value, as Yucaipa believes the inherent value of the Company is not reflected in its current share price.
As a result of the offer and the fact that it is conditioned on certain significant shareholders rolling over their equity interests in the Company, the Board of Directors has formed an independent Special Committee of the Board (the “Special Committee”) to evaluate the offer. No assurances can be given that the Special Committee’s assessment will result in any change in strategy, or if a transaction is undertaken. The Company does not expect to make further public comment regarding these matters unless and until a specific transaction or alternative has been approved or the Company otherwise concludes its reviews.
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Forward Looking Statements
This release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this release that do not relate to matters of historical fact should be considered forward-looking statements, including, without limitation, statements regarding our expected financial performance and operational performance for the remainder of fiscal 2024, as well as statements that include the words “expect,” “intend,” “plan,” “believe,” “project,” “forecast,” “estimate,” “may,” “should,” “anticipate” and similar statements of a future or forward-looking nature. These forward-looking statements are based on management’s current expectations. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including important factors discussed under the caption “Risk Factors” in our annual report on form 10-K for the fiscal year ended December 31, 2023 and as such factors may be updated from time to time in our other filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. In addition, we operate in rapidly changing environment. New risks emerge from time to time. It is not possible for our management to predict all risks, nor can we assess the impact of all factors on its business or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements that we may make. In light of these risks, uncertainties and assumptions, the forward-looking events and circumstances discussed in this release are inherently uncertain and may not occur, and actual results could differ materially and adversely from those anticipated or implied in the forward-looking statements. Accordingly, you should not rely upon forward-looking statements as predictions of future events. In addition, the forward-looking statements made in this release relate only to events or information as of the date on which the statements are made in this release. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
About Soho House & Co:
Soho House & Co (SHCO) is a global membership platform of physical and digital spaces that connects a vibrant, diverse and global group of members. These members use the Soho House & Co platform to work, socialize, connect, create and flourish all over the world. We began with the opening of the first Soho House in 1995 and remain the only company to have scaled a private membership network with a global presence. Members around the world engage with Soho House & Co through our global collection of 45 Soho Houses, 8 Soho Works, Scorpios Beach Club in Mykonos and Bodrum, Soho Home – our interiors and lifestyle retail brand – and our digital channels. The Ned in
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Source: Soho House & Co (SHCO)
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Source: Soho House & Co Inc.
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