By Chris Wack
Vacasa shares were paused at $3.70 in premarket trading after the company said it is being bought by Casago, a vacation-rental property management company.
Casago will buy all outstanding shares of Vacasa held by public stockholders for $5.02 a share, subject to adjustment as set forth in the merger agreement. The per-share purchase price represents a premium of 28% over Vacasa's 30-day volume weighted average price per share, as of Friday.
Roofstock, a proptech platform, plans to invest in and advise the combined company. Existing Vacasa shareholders Silver Lake, Riverwood Capital and Level Equity will retain minority investments in the combined company following the closing.
The deal is slated to be completed towards the end of the first quarter or the early part of the second quarter of 2025, after which Vacasa will delist from Nasdaq, becoming a private company.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
December 30, 2024 09:19 ET (14:19 GMT)
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