Estée Lauder Urges Stockholders to Reject TRC Capital Investment Corp's Below-Market Mini-Tender Offer
Portfolio Pulse from Benzinga Newsdesk
Estée Lauder has advised its stockholders to reject TRC Capital's unsolicited mini-tender offer to purchase 1,500,000 shares at $83.65 per share, which is below the current market price. The company emphasizes that TRC's offer is not endorsed and highlights the risks associated with mini-tender offers.
September 16, 2024 | 7:47 am
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Estée Lauder has urged its stockholders to reject TRC Capital's mini-tender offer, which is priced below the current market value. The company is not associated with TRC and warns of the risks involved in such offers.
The news highlights a potential risk for Estée Lauder stockholders due to TRC's below-market mini-tender offer. However, since the company has advised against accepting the offer and it involves a small percentage of shares, the immediate impact on stock price is likely neutral.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100