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Plymouth Industrial REIT said it has received an unsolicited, non-binding proposal from Sixth Street Partners to acquire all outstanding common shares for $24.10 apiece in cash. Sixth Street already owns about 9.99% of the industrial property landlord, according to a recent Schedule 13D filing. The offer sent Plymouth Industrial’s stock up as much as 44% in pre-market trading on Tuesday. The board of the Boston-based real estate investment trust said it will review the proposal in consultation with its financial and legal advisers. No definitive agreement has been reached, and the company cautioned that there is no assurance the discussions will lead to a transaction.
Upside: $PLYM +44% (Sixth Street Partners, LLC,to acquire 100% of the outstanding Common Stock and 100% of the common equity interests of Plymouth Industrial Operating Partnership, L.P. for a price per share equal to $24.10) $IOVA +14% (Amtagvi (lifileucel) receives Health Canada
$PLYM - Plymouth Industrial REIT received an unsolicited, non-binding proposal from Sixth Street Partners to acquire all of the outstanding shares of the Company's common stock for cash consideration of $24.10 per share.
$PLYM (+43.4% pre) Plymouth Industrial REIT receives $24.10 per share acquisition proposal https://t.co/stZpMtk840
