By Denny Jacob
Vacasa said the special committee of its board determined that the unsolicited bid from Davidson Kempner Capital Management isn't a superior offer to the agreement between Vacasa and Casago.
The vacation rental company said the committee determined a hitch in Davidson's proposal was the fact that it remained conditioned upon receipt of an amendment to its tax-receivable agreement and subject to materially greater risks regarding closing certainty than the Casago transaction, particularly in light of recent market volatility and uncertainty.
Vacasa in March entered into an amended agreement in which Casago will acquire all outstanding shares of the company held by public shareholders at a price of $5.30 a share.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
April 18, 2025 08:38 ET (12:38 GMT)
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