By Colin Kellaher
Vacasa has received an unsolicited, non-binding takeover proposal from investment firm Davidson Kempner Capital Management that could upend the vacation rental management platform's deal to be acquired by peer Casago.
Vacasa on Tuesday said Davidson Kempner has proposed a purchase price of $5.25 a share, topping the $5.02 a share that Casago agreed to pay in a deal struck late last year.
Vacasa said a special committee of its board will review the Davidson Kempner bid in consultation with its outside legal counsel and financial adviser to determine whether it could reasonably be expected to result in a superior proposal to the Casago deal.
Shares of Vacasa rose 4.3% to $5.30 in premarket trading, an indication that investors may think a bidding war for the Portland, Ore., company may be in the offing.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 04, 2025 08:35 ET (13:35 GMT)
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