Abbott Recommends Shareholders Reject Mini-Tender Offer by TRC Capital Investment.
MANews-(C)2009-2022
US-based drugmaker Abbott (NYSE: ABT) received notice of an unsolicited mini-tender offer by Canada's TRC Capital Investment Corp. to purchase up to 1m Abbott common shares, representing approximately 0.06% of the company's outstanding shares, the company said.
TRC's offer price of USD 112.38 per share in cash is approximately 4.5% lower than the USD 117.69 closing price of Abbott common shares on April 14, 2022, the last closing price prior to commencement of the offer.
Abbott said it does not recommend or endorse TRC's unsolicited below-market mini-tender offer and recommends that shareholders not tender their shares because the offer is at a price significantly below the current market price of Abbott common shares.
TRC has...
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