TTEC Holdings Shares Leap Premarket After Founder Proposes Buyout

Dow Jones

Sep 30, 2024

By Colin Kellaher

Shares of TTEC Holdings rose more than 40% in premarket trading Monday after the customer-experience technology and services company's controlling shareholder proposed taking it private.

TTEC on Monday said Kenneth Tuchman, its founder, chairman and chief executive, made a preliminary, non-binding proposal to buy the shares of the Greenwood Village, Colo., company he doesn't already own for $6.85 apiece, a 69% premium to Friday's closing price of $4.05.

TTEC shares were recently changing hands at $5.69, up more than 40%, in premarket trading.

TTEC said its board has formed a special committee of independent directors that will evaluate the proposal from Tuchman, who beneficially owns about 58% of TTEC's common stock.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

September 30, 2024 08:41 ET (12:41 GMT)

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