Vacasa receives buyout offer at $5.25 per share

PORTLAND, Ore. - Vacasa, Inc. (NASDAQ:VCSA), a prominent vacation rental management platform currently trading at $5.08 per share, has received an unsolicited purchase proposal from Davidson Kempner Capital Management LP. The offer, announced today, is to acquire all outstanding shares of Vacasa for $5.25 per share. This proposal comes after a December 30, 2024, agreement where Casago was set to acquire Vacasa’s shares at $5.02 each. According to InvestingPro data, the stock has shown strong momentum with a 29% gain over the past six months, despite being down 46% year-over-year.

Vacasa’s Board of Directors has not changed its recommendation for shareholders to vote in favor of the existing Merger Agreement with Casago. However, the Special Committee of the Board is obliged to review the new proposal to determine if it constitutes a "Superior Proposal" as per the terms of the Merger Agreement. The company has advised shareholders that no action is needed from them at this point. InvestingPro analysis indicates that Vacasa operates with a moderate debt level and currently trades at a low revenue valuation multiple, factors that could influence the evaluation of both offers.

The Special Committee will consult with its external legal counsel and financial advisor, PJT Partners (NYSE:PJT), to evaluate the new proposal’s contingencies, due diligence, documentation requirements, and implications for transaction timing. Legal advice is also being provided by Vinson & Elkins LLP and Latham & Watkins LLP.

Vacasa is known for its technology-driven approach to vacation rental management, offering homeowners the ability to earn income from their properties and providing guests with professionally managed inventory. The company’s inventory is available on its website and app, as well as through partners like Airbnb, Booking (NASDAQ:BKNG).com, and Vrbo.

As the proposed transaction with Casago is pending, Vacasa has filed a preliminary proxy statement with the Securities and Exchange Commission on January 31, 2025, and will file a definitive proxy statement and other relevant materials. Stockholders will be able to obtain these documents from Vacasa’s website or the SEC’s website once available. For investors seeking deeper insights, InvestingPro offers comprehensive valuation analysis and 12 additional ProTips about Vacasa’s financial health and market position through its detailed Pro Research Report, available as part of the subscription.

The press release statement also notes that the company’s directors and executive officers may be considered participants in the solicitation of proxies from stockholders in connection with the proposed transaction. Further details about their compensation and stock holdings can be found in the Preliminary Proxy Statement and other SEC filings.

This article is based on a press release statement from Vacasa, Inc.

In other recent news, vacation rental management platform Vacasa is set for a significant corporate shift following its acquisition by private company Casago. The deal, expected to be finalized between the first and second quarters of 2025, values Vacasa at approximately $129 million in equity and around $135 million in enterprise value. Analysts from BTIG and Needham have maintained a Neutral and Hold rating on Vacasa’s stock, respectively, following the acquisition announcement. Despite the acquisition, BTIG notes that the transaction does not alter their current estimates for Vacasa, which has seen a decline in revenue and persistent EBITDA losses. These are among the recent developments for Vacasa, as the company navigates through industry challenges and operational changes.

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