AbbVie Recommends Shareholders Reject Tutanota's "Mini-Tender" Offer To Purchase Up To 250K Shares Of Common Stock At $165 Per Share In Cash
Portfolio Pulse from Benzinga Newsdesk
AbbVie has advised its shareholders to reject Tutanota LLC's unsolicited 'mini-tender' offer to purchase up to 250,000 shares of AbbVie common stock at $165 per share. The offer is conditional on AbbVie's stock price exceeding the offer price and may be extended until this condition is met.
June 14, 2024 | 8:11 pm
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AbbVie has recommended shareholders reject Tutanota's 'mini-tender' offer to buy 250,000 shares at $165 per share, as it is below the market price and conditional.
The recommendation to reject the offer is based on the offer price being below the market price and the conditional nature of the offer. This news is important for shareholders but may not significantly impact the stock price in the short term.
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