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Alphabet-C | 8-K: Alphabet Recommends Stockholders Reject the Below-Market Mini-Tender Offer by TRC Capital Investment Corporation

SEC announcement ·  Feb 8 17:27
Summary by Moomoo AI
Alphabet Inc., the parent company of Google, has issued a statement on February 8, 2024, advising shareholders to reject an unsolicited mini-tender offer from TRC Capital Investment Corporation. The offer aims to purchase up to 1 million shares of Alphabet's Class C capital stock at $138.90 per share, a price approximately 4.48 percent below the closing share price on February 6, 2024. Alphabet has clarified that it does not endorse this mini-tender offer and recommends that shareholders do not tender their shares, citing the offer's below-market price and numerous conditions. The company also highlighted that TRC Capital has a history of making similar below-market mini-tender offers for other companies' shares. Mini-tender offers, such as this one, are for less...Show More
Alphabet Inc., the parent company of Google, has issued a statement on February 8, 2024, advising shareholders to reject an unsolicited mini-tender offer from TRC Capital Investment Corporation. The offer aims to purchase up to 1 million shares of Alphabet's Class C capital stock at $138.90 per share, a price approximately 4.48 percent below the closing share price on February 6, 2024. Alphabet has clarified that it does not endorse this mini-tender offer and recommends that shareholders do not tender their shares, citing the offer's below-market price and numerous conditions. The company also highlighted that TRC Capital has a history of making similar below-market mini-tender offers for other companies' shares. Mini-tender offers, such as this one, are for less than 5 percent of a company's shares and are not subject to the same SEC disclosure and procedural requirements as larger tender offers. Alphabet has urged shareholders to consult with their financial advisors and exercise caution. The offer is set to expire on March 8, 2024, but may be extended by TRC Capital. Shareholders who have already tendered shares have the option to withdraw them at any time before the offer's expiration.
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