IRVING, US: ExxonMobil Corporation said that it has received notice of an unsolicited mini-tender offer by TRC Capital Corporation to purchase up to 2 million shares of ExxonMobil common stock. This represents approximately 0.05 percent of the shares outstanding as of the 13 March offer date.
TRC Capital’s offer price of $78 per share is approximately 4.42 percent lower than the $81.61 closing share price of ExxonMobil’s common stock on 10 March– the business day prior to the date of the offer.
ExxonMobil recommends that stockholders do not tender their shares in response to TRC Capital’s offer because the offer is at a price below the current market price for ExxonMobil’s shares and subject to numerous conditions. ExxonMobil is not affiliated or associated in any way with TRC Capital, its mini-tender offer or the offer documentation.
TRC Capital has made many similar mini-tender offers for shares of other companies. Mini-tender offers to seek to acquire less than 5 percent of a company’s shares outstanding, thereby avoiding many disclosures and procedural requirements of the US Securities and Exchange Commission (SEC).
ExxonMobil urges investors to obtain current market quotations for their shares, to consult with their broker or financial advisor and to exercise caution with respect to TRC Capital’s offer.
ExxonMobil recommends that shareholders who have not responded to TRC Capital’s offer take no action. Shareholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, in accordance with TRC Capital’s offering documents. The offer is currently scheduled to expire on 11 April. TRC Capital may extend the offering period at its discretion.
© Worldofchemicals News
Read More: ExxonMobil receives unsolicited mini-tender offer by TRC Capital
No comments:
Post a Comment