TTEC Special Committee Retains Legal and Financial Advisors
Rhea-AI Summary
TTEC Holdings announced that its Special Committee has retained Rothschild & Co as financial advisor and Skadden, Arps, Slate, Meagher & Flom LLP as legal advisor. These appointments are to evaluate the unsolicited proposal from CEO Kenneth Tuchman to acquire remaining shares at $6.85 per share, received on September 27, 2024. The Special Committee is reviewing the proposal and potential alternatives, with no decision made yet. No immediate action is required from stockholders, and there's no guarantee of a definitive agreement or transaction completion.
Positive
- Potential acquisition offer at $6.85 per share represents a corporate action that could benefit shareholders
- Appointment of reputable financial and legal advisors indicates proper due diligence in evaluating the proposal
Negative
- Uncertainty regarding the completion of the transaction could create market volatility
- Proposed share price might undervalue the company's potential
News Market Reaction – TTEC
On the day this news was published, TTEC declined 0.19%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
The Special Committee, in consultation with its financial and legal advisors, is carefully evaluating and considering Mr. Tuchman's proposal and has not yet determined whether it is appropriate to pursue this transaction or other alternatives. No action is required by TTEC stockholders at this time.
There can be no assurance that any definitive offer will be received, that any definitive agreement will be executed relating to the proposal or that this or any other transaction will be approved or consummated. The Company does not undertake any obligation to provide any updates with respect to this or any other transaction, except as required under applicable law.
ABOUT TTEC
TTEC (pronounced T-TEC) Holdings, Inc. (NASDAQ: TTEC) is a leading global CX (customer experience) technology and services innovator for AI-enabled digital CX solutions. Serving iconic and disruptive brands, TTEC's outcome-based solutions span the entire enterprise, touch every virtual interaction channel, and improve each step of the customer journey. Leveraging next-gen digital technology, the Company's TTEC Digital business designs, builds, and operates omnichannel contact center technology, CRM, AI and analytics solutions. The Company's TTEC Engage business delivers AI-enhanced customer engagement, customer acquisition and growth, tech support, back office, and fraud prevention services. Founded in 1982, the Company's singular obsession with CX excellence has earned it leading client, customer, and employee satisfaction scores across the globe. The Company's employees operate on six continents and bring technology and humanity together to deliver happy customers and differentiated business results. To learn more visit us at https://www.ttec.com.
Corporate Comms
Meredith Matthews
meredith.matthews@ttec.com
Investor Relations
Paul Miller
paul.miller@ttec.com
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SOURCE TTEC Holdings
FAQ
What is the proposed share price in Kenneth Tuchman's offer for TTEC?
Who are the advisors retained by TTEC's Special Committee?
When did TTEC receive the preliminary acquisition proposal?
Do TTEC stockholders need to take any action regarding the acquisition proposal?
