Target Hospitality Reports Conclusion Of Evaluation Process Of TDR Offer

September 25, 2024 — 09:13 am EDT

Written by RTTNews.com for RTTNews

(RTTNews) - Target Hospitality (TH) said its Board has determined to disband the Special Committee of the Board, which it had established to consider and evaluate the previously announced unsolicited non-binding offer, received on March 24, 2024, from Arrow Holdings, an affiliate of TDR Capital LLP, to acquire all of the outstanding shares of common stock of Target not owned by Arrow, any investment fund managed by TDR or their respective affiliates, for $10.80 per share.

In connection with its review of the TDR Offer, the Special Committee launched a formal process to solicit offers for Target Hospitality and invited Arrow to participate in such a process. Arrow did not reaffirm the TDR Offer. Following the previously announced loss of a contract, no formal offers were received.

Given the operating results to date, Target Hospitality reaffirmed 2024 guidance.

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Target Hospitality Reports Conclusion Of Evaluation Process Of TDR Offer

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