Target Hospitality Reports Formation Of Special Committee Comprised Of Independent Directors
Portfolio Pulse from Benzinga Newsdesk
Target Hospitality has formed a special committee of independent directors following an unsolicited proposal from Arrow Holdings, an affiliate of TDR Capital, to acquire all outstanding shares not already owned by them for $10.80 per share.
April 29, 2024 | 11:07 am
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Target Hospitality received a buyout proposal from Arrow Holdings, an affiliate of TDR Capital, for $10.80 per share, leading to the formation of a special committee.
The unsolicited buyout proposal for Target Hospitality at $10.80 per share by Arrow Holdings, an affiliate of TDR Capital, is a significant event that could lead to a positive short-term impact on TH's stock price. The formation of a special committee of independent directors to review the proposal indicates seriousness about the offer, which could lead to investor optimism about a potential acquisition at a premium price.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100