Soho House closes in on $1.8bn take-private deal
Under the take-private deal, Soho House shareholders would receive $9 per share, a 17.8 per cent premium to the closing price of $7.64 on Friday, the Wall Street Journal reported.
The company, currently valued at $1.49 billion, floated on the New York Stock Exchange on July 14, 2021, at $14 a share. The company has struggled as a listed company, and the price has only been above the float price once. It has faced criticism about a loss of exclusivity and 'magic' after expanding.
The billionaire Ron Burkle, executive chairman of Soho House since 2012 and a controlling shareholder, is expected to roll over his stake, along with several other shareholders, the Journal said.
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