Plymouth stock jumps on acquisition offer from Sixth Street Partners

[M&A Mergers And Acquisitions]
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Plymouth (NYSE:PLYM [https://seekingalpha.com/symbol/PLYM]) stock was surging after the industrial REIT announced [https://seekingalpha.com/pr/20204652-plymouth-industrial-reit-receives-unsolicited-non-binding-acquisition-proposal] the receipt of an unsolicited, non-binding acquisition proposal from Sixth Street Partners.

Sixth Street Partners is a global investment firm based in San Francisco, California.

Shares were +36.95% Tuesday pre-market to $20.05.

Sixth Street has proposed to acquire all of Plymouth's outstanding shares of common stock for a cash consideration of $24.10 per share.

At present, Sixth Street beneficially owns ~9.99% of PLYM's​ outstanding common stock.

The company said it will "carefully evaluate the proposal to determine the course of action it believes is in the best interests of all Plymouth shareholders".

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