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eBay urges shareholders to reject ‘mini-tender’ offer

Wednesday, November 2, 2016 9:37
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(Before It's News)

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

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