Andre De Jesus Ferreira dos Santos @LongTheWorld: "The $PLYM merger arbitrage: Sixth..."

Switzerland

The $PLYM merger arbitrage: Sixth Street’s $24.10/share + $0.24 dividend ($24.34 total) offer remains non-binding, with no board decision yet—3 weeks post-announcement. Spread’s narrowed to ~9.4% (stock ~$22), suggesting growing confidence, but downside risk persists at 30% ($15 range if deal fails), judging by the price pre announcement. But I think it's an okkaish price today and it represents a good risk/reward ratio. Yesterday we got the news that one of the top investors , Adage Capital Partners, increased its stake by 29.6% and could potentially help push for the merger to be approved. The total institutional ownership of Plymouth Industrial REIT, Inc. (PLYM) is approximately 82.7%. with the Top 4 shareholders having 40% which I expected will all be pushing for the deal. Upside ~9.4% if closed, annualized to 31% for an end of year deal. Sources: ir.plymouthreit.com/news-events/press-releases/detail/221/plymouth-industrial-reit-receives-unsolicited-non-binding www.marketbeat.com/instant-alerts/filing-adage-capital-partners-gp-llc-raises-position-in-plymouth-industrial-reit-plym-2025-09-07/ $VNQ (Vanguard Real Estate ETF) $USRT (iShares Core U.S. REIT ETF) $XLRE (State Street Real Estate Select Sector SPDR ETF)