New York-based MCR Hotels and a group of investors will take members’ club operator Soho House private in a deal valued at about $2.7 billion, including debt. The company announced the agreement on Monday, sending its shares up 15% in premarket trading.
Under the terms of the deal, shareholders will receive $9 per share — a 17.8% premium to Friday’s closing price of $7.64, News.Az reports, citing Reuters.
Soho House, which went public in 2021, has struggled to deliver financial stability, losing more than 46% of its market value since its New York listing. The company, valued at $1.49 billion as of last week, set up a special board committee in February 2024 to explore strategic alternatives, including going private.
