Arrow offers to buy remaining stake Target Hospitality

By Thomson Reuters Mar 25, 2024 | 7:45 AM

(Reuters) – Arrow Holdings on Monday submitted a non-binding proposal to buy the remaining stake in rental and hospitality services company Target Hospitality Corp that it does not already own for $10.80 per share.

The offer by Arrow, which is currently the largest stakeholder in the company, represents a 21% premium to Target stock’s Friday close.

Target Hospitality’s shares rose 15% before the opening bell.

(Reporting by Pratyush Thakur in Bengaluru; Editing by Saumyadeb Chakrabarty)