Vacasa Shareholders Approve Acquisition by Casago, Deal to Close Wednesday

Key Points

• Vacasa shareholders approved the company's acquisition by Casago after a contentious bidding war.
• The board endorsed Casago's lower offer over a higher bid from Davidson Kempner, despite allegations of unfairness.
• The deal is set to close on Wednesday, with Vacasa leadership refuting claims of fiduciary misconduct.

Summary

Vacasa shareholders have approved an acquisition by Casago, set to close on Wednesday, following a heated bidding war that included a higher offer from hedge fund Davidson Kempner. Despite Davidson Kempner's accusations of a biased process favoring certain shareholders, Vacasa's board, on the recommendation of a special committee, endorsed Casago's lower bid. Vacasa's leadership has denied any wrongdoing, maintaining that the decision was made in the best interests of all public stockholders.