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
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“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.