StarTek forms special committee in response to CSP acquisition proposal

The board of directors of Startek has formed a special committee of independent directors that is authorized to evaluate the non-binding proposal, dated July 18, 2023, by CSP Management Limited to acquire all the shares of Startek that it does not already own for $3.80 in cash per share. CSP is currently the beneficial owner of approximately 56% of the outstanding shares of Startek. CSP states in its non-binding proposal that it is not contemplating selling its interests in Startek or approving any combination of Startek with, or a sale of all or substantially all of the assets of Startek to, any other potentially interested party. The special committee has engaged Gibson, Dunn & Crutcher LLP as its counsel and Houlihan Lokey, Inc. as its financial advisor to assist in its consideration of the proposal.