A consortium of investors led by New York-based MCR Hotels is close to a deal to take members’ club operator Soho House & Co (NYSE:SHCO) private, valuing the company at about $1.8 billion, the Wall Street Journal reported on Sunday, citing people familiar with the matter.
Billionaire Ron Burkle, the company’s controlling shareholder, is expected to roll over his stake along with several other investors, the report said. The group plans to pay about $9 a share for Soho House’s publicly traded stock, representing around 15% of the equity.
Apollo Global Management is expected to provide more than $700 million in equity and debt financing to support the deal, according to the WSJ.
The transaction would conclude a months-long battle with hedge fund manager Dan Loeb’s Third Point, which had pushed for higher offers.
A deal could be announced as early as Monday, unless talks face last-minute hurdles, the WSJ reported.
Source :
https://www.investing.com/news/stock-market-news/soho-house-nears-takeprivate-deal-wsj-reports-4196572
