SOHO HOUSE & CO INC (SHCO) shares plummeted 5.12% in the pre-market trading session on Friday, as the company revealed it has received a takeover offer from a consortium of investors.
The members' club operator stated that it has been approached with a proposal to take the company private at a premium to its current market valuation. While details of the offer remain undisclosed, this announcement has triggered a significant sell-off in SHCO stock.
Investors appear to be skeptical about the proposed deal, potentially fearing that the offer price may not fully reflect the company's growth prospects. Additionally, the uncertainty surrounding the acquisition process and its potential impacts on the company's operations could be contributing to the market's bearish reaction.
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