Boston-based Plymouth Industrial REIT Inc. (NYSE: PLYM) announced that it received an unsolicited, non-binding proposal from the San Francisco-headquartered global investment firm Sixth Street Partners LLC to acquire all of the outstanding shares of the company’s common stock at $24.10 per share.
Plymouth is focused on the acquisition, ownership and management of single and multi-tenant industrial properties. In a press statement, Plymouth said its board of directors “will carefully evaluate the proposal to determine the course of action it believes is in the best interests of all Plymouth shareholders.”
The company added that it will not “undertake any obligation to provide any updates with respect to this or any other proposal or transaction, except as required under applicable law.”
Sixth Street did not issue a press statement announcing its acquisition bid of Plymouth. In August 2024, Sixth Street made a $500 million strategic investment into Plymouth to fund additional growth.
