Johnson & Johnson has advised its shareholders to reject a 'mini-tender' offer made by TRC Capital Investment. The healthcare giant has expressed concerns about the unsolicited offer and believes it is not in the best interest of its shareholders.
TRC Capital Investment, a private investment firm, recently made a tender offer to purchase up to 1 million shares of Johnson & Johnson's common stock at a price below the market value. Johnson & Johnson has emphasized that this offer is significantly below the current market price of its shares.
In a statement, Johnson & Johnson highlighted that mini-tender offers like the one from TRC Capital Investment often seek to acquire shares at a discount, taking advantage of unsuspecting shareholders. The company urged its shareholders to carefully evaluate such offers and to reject them.
Mini-tender offers are not subject to the same regulatory requirements as traditional tender offers, making them potentially risky for shareholders. Johnson & Johnson emphasized that shareholders should be cautious when considering such offers and should seek advice from financial advisors if needed.
Johnson & Johnson reiterated its commitment to acting in the best interests of its shareholders and protecting their investments. The company encouraged shareholders to ignore the mini-tender offer from TRC Capital Investment and not to tender any of their shares in response to the offer.
Shareholders who have already tendered their shares to TRC Capital Investment are advised to withdraw them promptly. Johnson & Johnson assured its shareholders that it will continue to monitor the situation closely and provide updates as necessary.
