Soho House & Co Inc.'s shares surged after controlling shareholder Ron Burkle hinted at progress in the company going private, with CC Capital reportedly in talks to acquire the members club operator.
Soho House & Co Inc.'s shares surged as much as 28% after its controlling shareholder, Ron Burkle, hinted at progress in the company going private due to investors' focus on short-term profits. CC Capital, led by former Blackstone executive Chinh Chu, is reportedly one of the suitors in talks to acquire the members club operator. Burkle believes the stock market doesn't fairly value Soho House, which has lost more than 55% of its value since its 2021 New York listing.
March 18, 2024
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