Soho House Reports Q3 Sales of $333.37M, Receives $9.00 Per Share Acquisition Offer at 83% Premium, Shares Up 63.3%

Dec 19, 2024, 02:24 PM

Soho House & Co (NYSE: $SHCO) reported third-quarter sales of $333.37 million, falling short of the $333.88 million estimate. The company also announced it has received a $9.00 per share acquisition offer from a third-party consortium backed by Executive Chairman Ron Burkle and Yucaipa, representing an 83% premium over its current market value. In response to the acquisition proposal, the board has formed a special committee to evaluate the offer. Following this news, Soho House shares surged by approximately 63.3% in premarket trading, reflecting investor optimism regarding the potential buyout.