Soho House dissolves panel set up to evaluate potential take-private offer

Reuters05-31

May 31 (Reuters) - Soho House Co said on Friday that its board has dissolved a special committee that had been set up to evaluate certain strategic deals, including the possibility of going private.

The company said it had received interest from a party whose proposal was dependent on certain Class B shareholders rolling over their equity in the company as part of a deal.

Although the offer was at a substantial premium over the current trading price of the company's stock, the panel rejected the offer as it did not adequately reflect the value of the company.

Soho House provides a global membership platform of physical and digital spaces across the world. The company, which is valued at about $1.05 billion, said it could re-establish the committee again, if needed.

(Reporting by Ananta Agarwal in Bengaluru; Editing by Shailesh Kuber)

((Ananta.agarwal@thomsonreuters.com;))

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