AT&T Alerts Shareholders About Mini-Tender Offer
AT&T warned shareholders Monday that they should be wary of a TRC Capital Investment “mini-tender” offer. “TRC has offered to purchase up to 4 million shares of AT&T common stock at $26.38 per share,” the carrier said. “AT&T is in no way associated with TRC and recommends that shareholders reject this unsolicited offer,” which is below the current trading price of AT&T common stock.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
“The SEC has issued an alert on its website regarding mini-tender offers,” AT&T said: “This alert advises that mini-tender offers ‘have been increasingly used to catch investors off guard’ and that investors ‘may end up selling their securities at below-market prices.’” The offer expires June 3 unless TRC extends it.