Third Point's Loeb pushes for 'fair' sales process at SoHo House
ReutersJan 29, 2025 1:28 PM
By Svea Herbst-Bayliss
NEW YORK, Jan 29 (Reuters) - Daniel Loeb, who runs hedge fund Third Point, on Wednesday urged SoHo House directors to run a "fair" sales process after the hospitality group received a take-private offer late last year that sent its stock price surging.
He called the $9 a share offer a "sweetheart" deal and said he believed there were other parties with experience investing in the hospitality sector who would be interested in the asset, according to a letter Loeb wrote to SoHo House's board.
He called the sales procedure so far "an opaque process" and urged the board to achieve "maximum value for all shareholders."
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