Internet auction giant eBay Inc (NASDAQ:EBAY) is urging shareholders not to sell shares after receipt of what it called an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC) .
The offer is for TRC Capital Corporation to buy up to 4mln eBay shares at US$27.35 each in cash
That’s 4.37% below the closing price on Friday (Oct 28).
The offer is for around 0.36% of the group’s outstanding shares.
eBay said it was not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.
eBay shares are down 0.04% to US$28.40.
Story by ProactiveInvestors