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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.