Target Hospitality Receives Buyout Proposal From Arrow Holdings; Stock Up In Pre-market

(RTTNews) - Target Hospitality Corp. (TH) Monday said it received a buyout offer from Arrow Holdings S.à r.l., an affiliate of TDR Capital LLP, for $10.80 per share, to be paid in cash. The company's shares are up more than 16 percent in pre-market at $10.35.

The proposed price is about 21 percent premium to the closing price of Target Hospitality shares on Friday.

The Board intends to establish a special committee to review the Proposal.

Target Hospitality shares had closed at $8.92, down 3.88 percent on Friday. The stock has been trading in the range of $8.49 - $16.80 in the last 52 weeks.