THE WHAT? Procter & Gamble has issued a statement encouraging stockholders to reject an unsolicited mini tender offer by TRC Capital Investment to purchase 1 million shares of the US FMCG manufacturer’s common stock.
THE DETAILS The offer price of US$118.63 per share is 4.54 percent below the closing price on the last trading day prior to the offer.
THE WHY? P&G said it did not endorse the offer and recommends shareholders do not tender their shares in response to it as it is below market price and subject to numerous conditions.
The post P&G urges shareholders to reject mini tender offer appeared first on Global Cosmetics News.