AstraZeneca: rejects 'mini-bid' by TRC Capital
(CercleFinance.com) - AstraZeneca on Monday recommended that its shareholders reject a mini-bid for its American Depositary Shares (ADS) by TRC Capital, a Canadian investment firm that specialises in such transactions.
In a statement, the biopharmaceutical company said that it had been notified of a mini-tender offer by TRC Capital to purchase two million ADSs, or 0.06% of its share capital, at a price of 57.88 dollars per share.
AstraZeneca claims that TRC Capital's offer is approximately 4.5% below the closing price on 8 October, the day before the offer.
As a result, AstraZeneca says it does not endorse this "unsolicited" offer and asks its shareholders to ignore it.
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