Masco Urges Shareholders To Reject $64/Share Mini-Tender Offer by TRC Capital
Portfolio Pulse from Benzinga Newsdesk
Masco has received an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to 2 million shares at $64.00 per share, which is 4.68% lower than the closing price of $67.14 on June 10, 2024. Masco urges shareholders to reject the offer.
June 12, 2024 | 9:23 pm
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Masco has received an unsolicited mini-tender offer from TRC Capital to purchase shares at a price below the current market value. The company advises shareholders to reject the offer.
The mini-tender offer is priced below the current market value, which could be seen as undervaluing the stock. Masco's recommendation to reject the offer suggests the company believes the stock is worth more, potentially leading to negative sentiment in the short term.
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IMPORTANCE 80
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