(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)
