Soho House & Co Inc. (SHCO) announced on Friday that a third party had expressed interest in a transaction contingent upon certain Class B shareholders maintaining their equity stakes in the company.
The offer presented was at a significant premium to the current market price of the shares.
Following an in-depth assessment by the Special Committee and its independent advisors, the Special Committee concluded that the proposal did not sufficiently reflect the intrinsic value of the company and was not aligned with the best interests of public shareholders.
As a result, the Special Committee recommended and the Board has agreed to dissolve the Special Committee.
Previously, in the fall of 2023, the Board of Directors had formed an independent Special Committee to evaluate various strategic transactions, including the possibility of taking the company private. Additionally, Soho House & Co Inc. has announced plans to host an Investor Day later this year to provide updates on its long-term growth strategy.
