BUZZ-TTEC jumps after CEO proposes to take company private

Reuters
2024-09-30

** Shares of global customer experience technology and services firm TTEC Holdings up ~28% at $5.18 premarket

** Co says its board has received an unsolicited proposal from CEO Kenneth Tuchman to be taken private at $6.85 per share

** Tuchman owns about 58% of co's common stock, TTEC adds

** Says board has established a special committee of independent directors with its own advisors to evaluate the proposal and determine appropriate course of action and process

** Given the rapid pace of change in our industry and the evolution of our business to meet the challenges of this dynamic environment ... it is in the best interest of TTEC to return being private company - Tuchman says in a letter to the board

** Up to last close, stock fell nearly 81% YTD

(Reporting by Anuja Bharat Mistry in Bengaluru)

((AnujaBharat.Mistry@thomsonreuters.com;))

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