TTEC Announces Retention of Advisors to Review Acquisition Proposal
Denver, Nov. 1, 2024
TTEC Holdings, Inc. (NASDAQ: TTEC), a global CX technology and services innovator, has announced that its Special Committee of the Board of Directors has appointed Rothschild & Co as its independent financial advisor, and Skadden, Arps, Slate, Meagher & Flom LLP as its independent legal advisor. This decision comes as the committee reviews an unsolicited acquisition proposal from TTEC founder, Chairman, and CEO Kenneth Tuchman.
The proposal, dated September 27, 2024, suggests that Tuchman and his affiliates acquire the shares of the company’s common stock not currently owned by them at a price of $6.85 per share. The committee, with the assistance of its advisors, will evaluate this proposal and explore any potential alternatives to determine the best course of action for TTEC and its shareholders.
TTEC’s decision to bring in external advisors underscores the importance and complexity of the situation. The expertise and guidance provided by Rothschild & Co and Skadden, Arps, Slate, Meagher & Flom LLP will be instrumental in ensuring a thorough and impartial review of the acquisition proposal.
As the situation continues to develop, stakeholders will be eagerly awaiting the committee’s findings and recommendations regarding the proposed acquisition. The outcome of this review could have significant implications for the future direction of TTEC and its business operations.
How will this affect me?
As a shareholder of TTEC, you may see changes in the company’s ownership structure and potentially its strategic direction depending on the outcome of the review process. It is important to stay informed about developments and how they may impact your investment in TTEC.
How will this affect the world?
The outcome of TTEC’s acquisition review could have broader implications for the CX industry and the business landscape as a whole. A successful acquisition could lead to changes in the competitive landscape and the way companies approach customer experience technology and services.
Conclusion
The retention of Rothschild & Co and Skadden, Arps, Slate, Meagher & Flom LLP by TTEC’s Special Committee underscores the company’s commitment to a thorough and objective evaluation of the acquisition proposal. The decision reached as a result of this review process will undoubtedly shape the future of TTEC and could have far-reaching effects on the industry as a whole.
