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NEW BRAUNFELS, Texas - TaskUs, Inc. (NASDAQ:TASK) has postponed its special stockholder meeting for the second time as it seeks additional votes for its proposed $16.50 per share acquisition by Blackstone and company co-founders. The proposed price represents a slight discount to the current market value, with TaskUs shares trading at $17.72 and showing strong momentum with a 30% gain over the past six months.
The digital services provider announced Wednesday that the meeting originally scheduled for September 24 has been adjourned to October 8, following an earlier postponement from September 10. The company has not yet secured the required majority approval from unaffiliated shareholders. According to InvestingPro data, TaskUs maintains strong financial health with a current ratio of 2.84, indicating robust liquidity to meet its obligations.
The transaction, announced on May 9, would take TaskUs private through an all-cash deal led by Blackstone alongside TaskUs Co-Founder and CEO Bryce Maddock and Co-Founder and President Jaspar Weir.
According to a preliminary assessment of votes, the company has not obtained the necessary majority support from stockholders excluding the buyer group. The special committee of TaskUs’ board continues to advocate for the deal, citing artificial intelligence’s impact on the company’s business and future prospects.
The meeting will now be held virtually on October 8 at 7:30 a.m. Central Time, with the record date remaining August 6. Previously submitted proxies will remain valid unless revoked, and stockholders who haven’t voted are encouraged to do so.
TaskUs provides outsourced digital services and customer experience solutions to companies in sectors including social media, e-commerce, gaming, and financial services. As of June 30, the company employed approximately 60,400 people across 30 locations in 13 countries. The company has demonstrated solid performance with $1.1 billion in revenue and a healthy gross profit margin of 41%. InvestingPro analysis reveals 10+ additional key insights about TaskUs’s financial health and growth prospects, available through the comprehensive Pro Research Report.
The announcement was made in a company press release statement.
In other recent news, TaskUs, Inc. has adjourned its special meeting of stockholders to gather additional proxies needed for the approval of its proposed acquisition by an affiliate of Blackstone and TaskUs co-founders. The company has not yet secured the required majority vote from unaffiliated stockholders for the $16.50 per share all-cash transaction. Meanwhile, Morgan Stanley has downgraded TaskUs from Overweight to Equalweight, adjusting its price target to $16.50 ahead of the merger vote. This downgrade coincides with the upcoming shareholder vote on the merger agreement, which is priced at 9.2 times Morgan Stanley’s 2026 earnings per share estimate of $1.79. Additionally, Murchinson Ltd., an investment firm, has voiced its opposition to the take-private deal, arguing that the $16.50 offer undervalues TaskUs. Murchinson suggests that the company should be valued at a minimum of $19.00 per share, pointing to TaskUs’s strong financial performance and growth trajectory. These developments come as TaskUs navigates significant shareholder decisions and market evaluations.
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