TaskUs holder plans to vote against sale to Blackstone

TaskUs holder Think Investments plans to vote against the company's planned sale to Blackstone (NYSE:BX). 

Think, which has a 10.7% stake in TaskUs, believes the $16.50 a share sale to Blackstone (NYSE:BX) "substantially undervalues" the company and a fairer price would be $25 a share, according to a presentation released on Tuesday.

"Think’s analysis of relevant comparable transactions and the Company’s recent operating outperformance indicates that a fair valuation for TaskUs is $25.00 per share, more than 50% above the proposed buyout price," Think said in a statement. 

Think is the second investor to come out publicly against a sale. Earlier this month, TaskUS (NASDAQ:TASK) holder Murchinson said it plans to vote against the planned $16.50 a share sale because it  "drastically undervalues" the company.

Blackstone (NYSE:BX), TaskUs (NASDAQ:TASK) Chief Executive Officer Bryce Maddock, and President Jaspar Weir agreed in May to take private the digital services provider in an all-cash transaction for $16.50 a share. A shareholder vote on the deal is set for Sept. 10.

TaskUs and Blackstone didn’t immediately respond to Seeking Alpha's request for comments. 

The Think Investment news was earlier reported by Bloomberg.