mini-tender offer


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Mini-Tender Offer

A tender offer for less than 5% of shares outstanding. A tender offer is an offer to buy a significant amount of stock in a publicly-traded company directly from shareholders, an act that bypasses the board of directors. A tender offer may be part of a hostile takeover and therefore any offer exceeding 5% of the company's shares must be registered with the SEC and submitted to oversight. A mini-tender offer avoids this requirement, which can be detrimental to shareholders, as the SEC does not have the ability to protect their rights.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

mini-tender offer

An offer to purchase less than 5% of a company's stock. Investors are at greater danger in a mini-tender offer because it is not subject to many of the SEC disclosure and procedural protections that apply to traditional tender offers. For example, tendering shares in a mini-tender offer generally means an investor cannot change his or her mind even though the tender has not closed.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
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IQVIA does not endorse TRC Capital's unsolicited mini-tender offer and recommends that shareholders do not tender their shares into the tender offer, because the offer is at a price below the current market price for IQVIA's shares and subject to numerous conditions.
ENPNewswire-July 29, 2019--Zimmer Biomet Recommends Shareholders Reject Mini-Tender Offer by TRC Capital Corporation
M2 EQUITYBITES-July 10, 2019-WestRock Recommends Stockholders Reject the Below-market Mini-Tender Offer by TRC Capital Corp.
TRC Capital's offer price was USD34.80 per share in cash, 4.58% less than the USD36.47 closing price of the company's common stock on 28 June 2019, the last trading day before the mini-tender offer began, and 6.55% less than the USD37.23 closing price of its common stock on 2 July 2019.
(Nasdaq: BIIB) today announced that it has received notice of an unsolicited mini-tender offer by TRC Capital Corporation (TRC Capital) to purchase up to 500,000 shares of Biogen's common stock at a price of $216.25 per share in cash.
The Boeing Company [NYSE: BA] has announced it has received an unsolicited mini-tender offer to purchase up to 10,000 shares of Boeing's common stock by Peer & Peri LLC, the company said.
DES MOINES, Iowa: Principal Financial Group(r) got notice of an unsolicited mini-tender offer by Baker Mills LLC ("Baker Mills") to purchase up to 90,000 shares of Principal Financial Group, Inc.
TransCanada Does Not Endorse Mini-Tender Offer by TRC Capital
Diversified software company Adobe Systems Incorporated (Nasdaq:ADBE) disclosed on Wednesday that it does not endorse TRC Capital Corporation's mini-tender offer at below the current market price for its shares and subject to numerous conditions, recommending stockholders not to tender their shares.
Denbury Resources, Inc (NYSE: DNR), a US-based company that explores for oil and gas, has announced receiving an unsolicited mini-tender offer by TRC Capital Corporatio (TRC) to acquire a part of company common stock.
Finnish telecomms solutions provider Nokia said on Monday (7 August) that it had been notified of an unsolicited, below-market "mini-tender offer" by the Canadian company TRC Capital Corporation to purchase up to 5,000,000 American depositary shares (ADSs) of Nokia Corporation at a price of USD19.00 per ADS.