Vacasa, Inc. (NASDAQ:VCSA) stock is trading higher on Monday after the company announced that it and Casago, a international vacation rental property management company, have agreed to merge.
The Details: Under the merger agreement, Casago will purchase all outstanding shares of Vacasa at $5.02 per share, creating a vacation rental management platform.
"This merger is a natural next step in Vacasa's journey over the past year, sharpening our focus on owners, guests, and our local teams that take care of them every day. By combining with Casago, a company that shares our vision of locally-empowered, homeowner-focused property management, we're accelerating our progress on that path," said Vacasa CEO Rob Greyber.
"We are excited to be a part of what we believe should be the category-defining company in the vacation rental space," said Gary Beasley, co-founder and CEO of Roofstock, which plans to invest in and provide strategic guidance to the combined company.
VCSA Price Action: At the time of publication, Vacasa stock is trading 28.1% higher at $4.88, according to data from Benzinga Pro.
Image: via Shutterstock
