$TH Acquisition by TDR Falls Through Amid $10.8 Bid Reaffirmation Issues, Revised Bid $9-10 Possible

The potential acquisition of $TH by TDR appears to have fallen through. The special committee overseeing the deal has been disbanded, and management has indicated that TDR never reaffirmed its initial bid of $10.8 following a significant contract loss. This has raised questions about the process and the future of $TH. Management also highlighted that $TH has an authorized buyback program of $100 million, with $78 million to $79 million remaining as of May. The situation remains fluid as investors speculate on TDR's next moves, including the possibility of a direct tender offer to shareholders at a revised bid of $9-10 per share.