SOHO HOUSE & CO INC (SHCO) shares plunged 5.4% in Friday's intraday trading session after the company revealed it has received a takeover offer from an unnamed consortium of investors.
While the details of the offer price remain undisclosed, investors appear skeptical that the proposed acquisition would adequately value SHCO's growth prospects. There are concerns that the deal could face challenges during the acquisition process, adding uncertainty around the company's future operations.
Bank of America has also moved its rating on SHCO to 'No Rating' following the acquisition announcement, further fueling bearish sentiment around the stock.
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