Soho House near deal to go private in $1.8B deal, funded by Apollo Global

[Connected puzzle pieces with the acronym M&A. Merger and acquisition in business]
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Soho House (NYSE:SHCO [https://seekingalpha.com/symbol/SHCO]) has announced that it is nearing an agreement to go private for $1.8 billion (excluding debt). An investor group led by New York-based MCR Hotels is acquiring the company for $9 per share, the Wall Street Journal reported Sunday.

The deal represents an almost 18% premium over Friday's closing price

According to reports [https://www.wsj.com/business/soho-house-members-club-nearing-a-deal-to-go-private-fcae011c], Apollo Global (APO [https://seekingalpha.com/symbol/APO]) is providing over $700 million in financing.

Soho House's controlling shareholder, Ron Burkle, and certain other shareholders will roll over their stakes, the report added.

The decision to take Soho House private follows months of pressure from activist investor Dan Loeb and his hedge fund, Third Point, that had pushed the board to find outside buyers in a bid to secure a higher valuation for the company that has struggled since going public in 2021.

The final terms could be announced as early as this week.

MORE ON SOHO HOUSE

* Soho House: Lock In Gains On This Spike (Downgrade) [https://seekingalpha.com/article/4799113-soho-house-lock-in-gains-on-spike-downgrade]
* Seeking Alpha’s Quant Rating on Soho House [https://seekingalpha.com/symbol/SHCO/ratings/quant-ratings]
* Historical earnings data for Soho House [https://seekingalpha.com/symbol/SHCO/earnings]
* Financial information for Soho House [https://seekingalpha.com/symbol/SHCO/income-statement]