Blackswells Capital Urges Service Properties to Engage with TKO Bid
Activist investor Blackswells Capital is calling on the board of Service Properties (SVC) to immediately engage with TKO LLC following a $2.0 billion proposal to acquire the company's hospitality portfolio. The activist firm argues that the board must enter discussions with TKO and other potential interested parties to maximize shareholder value. The move follows an initial bid from TKO last month, which targeted the hospitality segment of Service Properties. Blackswells is pushing for a formal engagement process to ensure the company explores all available strategic options and competitive offers.
Topics: activist investing hostile takeover attempt mergers and acquisitions