On March 25, 2024, Target Hospitality Corp. (“Target Hospitality”) filed a Form 8-K with the U.S. Securities and Exchange Commission disclosing that it has received an unsolicited non-binding proposal from Arrow Holdings S.a.r.l., an affiliate of TDR Capital LLP (“TDR”), to acquire all of the outstanding shares of common stock of Target Hospitality that are not owned by any of Arrow, any investment fund managed by TDR or their respective affiliates, for cash consideration of $10.80 per share.
Our investigation focuses on the fairness of the process to consider the acquisition proposal and the adequacy of the consideration Target Hospitality shareholders will receive for their shares.
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