Sixth Street Partners, LLC
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Plymouth Rises 47% on Receiving Acquisition Proposal From Sixth Street
ZACKS· 2025-08-20 17:10
Core Insights - Plymouth Industrial REIT (PLYM) has received an unsolicited proposal from Sixth Street Partners, LLC to acquire all outstanding shares for $24.10 per share, leading to a 47.06% increase in share price [1][8] - Sixth Street Partners beneficially owns approximately 9.99% of Plymouth's outstanding common stock, and the company's board will review the proposal with its financial and legal advisors [2][8] - Plymouth focuses on acquiring, owning, and managing industrial properties and is well-positioned for growth despite macroeconomic uncertainties and tariff issues [3][4] Company Performance - Over the past three months, Plymouth's shares have increased by 36.7%, contrasting with a 0.1% decline in the industry [4] - Shareholders are not required to take any action regarding the acquisition proposal at this time [3][8] Related Stocks - Other top-ranked stocks in the REIT sector include Host Hotels & Resorts (HST) and Welltower (WELL), both currently holding a Zacks Rank 2 [6] - The Zacks Consensus Estimate for HST's 2025 FFO per share has increased by 4 cents to $1.95, while WELL's estimate has risen by 2 cents to $5.06 [7]
Plymouth Industrial REIT Receives Unsolicited, Non-Binding Acquisition Proposal
Globenewswire· 2025-08-19 11:15
Core Viewpoint - Plymouth Industrial REIT, Inc. has received an unsolicited proposal from Sixth Street Partners to acquire all outstanding shares for $24.10 per share, with Sixth Street owning approximately 9.99% of the company's stock [1][2]. Group 1: Proposal Details - The proposal from Sixth Street Partners is non-binding and offers cash consideration of $24.10 per share [1]. - Sixth Street beneficially owns about 9.99% of Plymouth's outstanding common stock [1]. Group 2: Company Response - The Board of Directors will evaluate the proposal in consultation with financial and legal advisors to determine the best course of action for shareholders [2]. - Shareholders are not required to take any action at this time regarding the proposal [2]. Group 3: Advisory Support - KeyBanc Capital Markets Inc. is serving as the financial advisor to Plymouth [3]. - Morrison & Foerster LLP is providing legal counsel to the company [3]. Group 4: Company Overview - Plymouth Industrial REIT, Inc. is focused on the acquisition, ownership, and management of single and multi-tenant industrial properties [4]. - The company's mission is to provide tenants with cost-effective, functional, flexible, and safe space [4].