TDCX, a provider of digital customer experience solutions, is set to be acquired in a going-private deal by Laurent Junique, the company’s founder and executive chairman, and his affiliates. The transaction implies an equity value of $1.04 billion.
Buyer Group Takes Majority Stake
The buyer group, which currently beneficially owns around 86% of all issued and outstanding shares of TDCX, holds 98% of the company’s voting power.
Merger Details
As part of the deal, shares represented by American depositary shares will be canceled, with shareholders set to receive $7.20 in cash per share without interest.
Premium Offer
The merger consideration offers a premium of 48% to the closing price of TDCX’s ADSs on Dec. 29, 2023, and a 17% premium to the closing price on the day before the going-private proposal was received.
Future Outlook
The merger is slated to be finalized in the second quarter, resulting in TDCX transitioning into a privately owned entity with its ADSs no longer listed on the New York Stock Exchange.
Stay tuned for more updates.