Monarch Alternative Capital, a private equity firm, offered to acquire Paramount Group, a real estate manager, for $2.6bn. "Consistent with its fiduciary duties and in consultation with its independent financial and legal advisors, the Paramount Board of Directors will carefully review the unsolicited proposal to determine the course of action that it believes is in the best interest of the Company and all Paramount stockholders," Paramount Group. On March 21, 2022, Paramount Group announced that its board of directors has unanimously rejected an unsolicited, non-binding proposal received from Monarch Alternative Capital to acquire all of the company’s outstanding common stock.