Generation Income Properties (GIPR) shares were up before Tuesday's opening bell after shareholder Resurgent Realty Trust said it has made a non-binding offer to buy a 51% stake in the company at $3 per share.
Resurgent said it "believes significant, unrealized value exists" in the company, which is "currently being squandered by management." The shareholder said it is looking to acquire a majority stake in order to implement changes in the board, senior management and in the overall strategic direction of the company.
Generation Income didn't immediately respond to a request for comment by MT Newswires.
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