Vacasa Accepts Revised Acquisition Offer, Turns Down Rival’s Higher Bid
Photo Credit: A Vacasa-managed property in Colorado. Vacasa
Skift Take
One reason Vacasa's board looks more favorably about the Casago bid is because of the leverage that Davidson Kempner wields over Vacasa as a debt holder. If Vacasa accepts the investment firm's bid and the deal gets dragged out, then Davidson Kempner would be in the driver's seat.
Property management company Casago and investment firm Davidson Kempner Capital Management have submitted at least two bids each since late December to acquire Vacasa.
In the latest development, the Vacasa board announced Monday it accepted Casago's revised bid of $5.30 per share in cash. On March 14 in its own third bid, Davidson Kempner made a higher offer of $5.75 per share in cash.
But even though Davidson Kempner's bid was higher, a Vacasa special committee said t
