Shareholder Revolt Puts Taskus Buyout in Jeopardy

The proposed acquisition of Taskus by Blackstone and company founders has encountered significant resistance, transforming what was expected to be a straightforward transaction into a contentious battle. A crucial shareholder vote has now been postponed, casting serious doubt on the deal’s prospects as dissenting investors challenge the consortium’s firm $16.50 per share offer.

A special meeting scheduled to vote on the takeover has been unexpectedly pushed to September 24th. This delay stems from the acquiring group’s failure to secure the necessary majority support from independent shareholders. Prominent investment firms, including Murchinson Ltd., are leading the opposition, contending the bid significantly undervalues the company and demanding a minimum of $19 per share. The influential proxy advisory firm ISS has also... Read more...