Soho House Receives £1.4B Takeover Bid

Soho House & Co has received a takeover offer from an unnamed consortium valuing the company at approximately $1.8 billion, or $9 per share, which represents an 83% premium over its recent closing price. The bid is backed by majority shareholder Ron Burkle and his investment firm, The Yucaipa Companies, as they believe the company is undervalued. Following the announcement, Soho House's shares surged over 60% in early trading. The company reported strong third-quarter results, with revenues increasing by 13.6% year-on-year to $333.4 million and a membership growth of 4.8% to 267,494. An independent committee has been formed to evaluate the takeover offer, and Soho House has indicated it will refrain from further comments until the review concludes. Despite past challenges, including past rejections of offers, Burkle's push for a buyout reflects ongoing efforts to enhance shareholder value amid market fluctuations.