Startek Forms Special Committee In Response To Preliminary Non-Binding Acquisition Proposal By CSP Management Limited To Acquire All The Shares Of Startek That It Does Not Already Own For $3.80 In Cash Per Share
Portfolio Pulse from Happy Mohamed
Startek, Inc. (NYSE:SRT) has formed a special committee to evaluate a non-binding proposal by CSP Management Limited to acquire all the shares of Startek that it does not already own for $3.80 per share. CSP currently owns approximately 56% of Startek's outstanding shares. The special committee has engaged Gibson, Dunn & Crutcher LLP as its counsel and Houlihan Lokey, Inc. as its financial advisor. No decisions have been made yet and there is no assurance that any definitive offer will be made or accepted.
August 25, 2023 | 8:12 pm
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NEUTRAL IMPACT
Startek is considering a non-binding proposal by CSP Management to acquire all the shares it does not already own for $3.80 per share. The outcome is uncertain and could impact the stock price.
The news of a potential acquisition usually impacts a company's stock price. However, since the proposal is non-binding and no decisions have been made yet, the impact on Startek's stock price is uncertain at this point. The stock price could go up if the market perceives the acquisition as beneficial, or it could go down if the market perceives it as detrimental. The fact that CSP already owns 56% of Startek's shares adds another layer of complexity to the situation.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 100