Vacasa Accepts Higher $5.30 Per Share Offer from Casago

Vacasa has agreed to a revised acquisition offer from Casago, accepting an increased price of $5.30 per share. The new proposal follows Casago’s initial offer of $5.02 per share, which was announced in December. Casago, based in Arizona, manages nearly 5,000 vacation rental properties across 72 cities in the U.S., Mexico, Costa Rica, and the Caribbean, while Vacasa manages approximately 38,000 properties.

The updated offer comes shortly after a competing bid from shareholder Davidson Kempner, which raised its offer to $5.75 per share from a previous $5.25 in early February. Davidson Kempner argued its proposal offered better value and could be executed faster than the original Casago deal.

Despite the higher price, Vacasa’s special committee did not consider the Davidson Kempner offer to be a “superior proposal” or one likely to result in a better outcome for shareholders. As a result, the company chose to move forward with Casago’s revised offer.

Following the announcement, Vacasa’s stock rose 3%. The company expects the acquisition to close by the end of next month.

In its full-year 2024 financial results released last week, Vacasa reported a significant decline in performance. Employee headcount dropped from 6,400 in 2023 to 4,300 by the end of 2024. Direct booking share also declined from 40% to 30%. The company sold five million nights in 2024, a 19% year-over-year decrease, and gross booking value fell 19.6% to $1.9 billion compared to the previous year.

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Vacasa Accepts Higher $5.30 Per Share Offer from Casago

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