TaskUs to terminate proposed take-private transaction after shareholder vote

TaskUs (TASK) announced that at a special meeting of TaskUs stockholders, the company did not receive the votes necessary to approve the transaction agreement with an affiliate of Blackstone, TaskUs Co-Founder and Chief Executive Officer Bryce Maddock, and TaskUs Co-Founder and President Jaspar Weir. TaskUs does not plan to convene another special meeting of stockholders and expects to terminate the proposed transaction. As a result, TaskUs will remain a publicly traded company, and the company’s Class A common stock will continue to trade on Nasdaq under the ticker symbol “TASK.” Maddock said, “We have appreciated the feedback received from our stockholders since our transaction announcement. We share their confidence in TaskUs and remain committed to transforming our business for the AI era.” Neither party will be required to pay the other a termination fee as a result of the planned mutual decision to terminate the agreement, the company stated.