11:32 AM EDT, 03/25/2024 (MT Newswires) -- (Updates stock move in the first paragraph, and adds response from TDR Capital in the third paragraph.)

Target Hospitality ( TH ) shares jumped about 24% in recent Monday trading after the company said that its board received an unsolicited non-binding proposal from a TDR Capital affiliate Arrow Holdings to acquire all outstanding Target Hospitality ( TH ) common shares for $10.80 per share in cash.

The board has yet to "carefully review" the proposal, Target Hospitality ( TH ) said.

TDR Capital declined MT Newswires' request for comment.

Price: 11.02, Change: +2.10, Percent Change: +23.54