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PORTLAND, OR – Vacasa Inc. (NASDAQ:VCSA), a company specializing in services to dwellings and other buildings currently valued at $121.55 million, has addressed a buyout offer from investment firm Davidson Kempner. The company’s stock, which has surged 111% over the past six months despite challenging fundamentals, is currently trading at $5.39. On Monday, Vacasa’s Special Committee of the Board of Directors sent a formal response to Davidson Kempner concerning its March 30, 2025, proposal to purchase all outstanding common stock of Vacasa.
The communication between Vacasa and Davidson Kempner was disclosed in a regulatory filing with the Securities and Exchange Commission on April 14, 2025. According to InvestingPro data, Vacasa faces significant financial challenges, with negative EBITDA of $10.7 million and a concerning current ratio of 0.77, indicating potential liquidity issues. The filing included a letter from Vacasa to Davidson Kempner, which has been furnished as part of the company’s current report but will not be deemed filed for liability purposes under the Exchange Act.
Vacasa, which is headquartered in Portland, Oregon, operates under the legal framework of Delaware and is listed on The Nasdaq Stock Market LLC. As an emerging growth company, Vacasa has opted not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
The SEC filing did not disclose the financial terms of Davidson Kempner’s proposal nor Vacasa’s position on the offer. The information provided in the filing is based on the company’s statements and should not be considered as filed under the Securities Act of 1933.
This latest development is part of ongoing discussions between Vacasa and Davidson Kempner. The outcome of these discussions could potentially lead to a significant change in the ownership structure of Vacasa, depending on the decisions made by the company’s board and the negotiations with Davidson Kempner.
Investors and stakeholders in the services-to-dwellings sector will be closely monitoring the situation as it unfolds. InvestingPro analysis reveals that analysts anticipate a sales decline in the current year, with the company continuing to burn through cash. For deeper insights into Vacasa’s financial health and detailed valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro. Further details and implications of the proposal and Vacasa’s response will likely emerge as the company continues to evaluate the offer.
The information in this article is based on Vacasa’s SEC filing and does not include any speculation or subjective assessment of the potential impact of the buyout proposal.
In other recent news, Vacasa, Inc. has announced a second amendment to its merger agreement with Casago Holdings, LLC. The amendment, dated March 28, 2025, removes the condition related to the Hart-Scott-Rodino Antitrust Improvements Act, suggesting progress toward finalizing the merger. The revised terms of the agreement now set the acquisition price at $5.30 per share in cash, with Vacasa’s Board choosing Casago’s offer over a competing $5.75 per share proposal from Davidson Kempner Capital Management. This decision was based on Casago’s offer providing greater certainty without requiring amendments to Vacasa’s Tax Receivable Agreement. The merger will include all outstanding shares held by Vacasa’s public stockholders, with the company aiming to close the transaction by the end of April. Vacasa’s Board of Directors has maintained its recommendation for shareholders to support the existing agreement with Casago, despite Davidson Kempner’s unsolicited offer of $5.25 per share. Shareholders are advised to await the final proxy statement, which will provide further details on the transaction. These developments are part of Vacasa’s ongoing efforts to enhance its market presence through strategic acquisitions.
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