09:43 AM EST, 12/19/2024 (MT Newswires) -- (Updates with stock move in the headline and first paragraph.)

Soho House ( SHCO ) shares were up more than 60% Thursday morning after the company said it received a $9 per share acquisition offer from a consortium supported earlier this week.

The proposal requires certain major shareholders, including Executive Chairman Ron Burkle and Yucaipa, to roll over their equity interests in Soho House ( SHCO ), the company said.

The company's board has formed a special committee to evaluate the offer, but there is no assurance it will result in a transaction or strategic change, Soho House ( SHCO ) said. The bid follows a review by Yucaipa, which found the company is undervalued in the market, Soho House ( SHCO ) added.

Price: 7.87, Change: +2.96, Percent Change: +60.35