Actionable news
All posts from Actionable news
Actionable news in SBUX: Starbucks Corporation,

Starbucks Recommends Shareholders Reject “Mini-Tender” Offer by TRC Capital Corporation

SEATTLE, May 04, 2016 (BUSINESS WIRE) -- Starbucks Corporation SBUX, +0.25% today announced that it received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC Capital) to purchase up to 2 million shares of Starbucks common stock at a price of $54.38 per share in cash. The offering price is 4.43 percent below the closing price per share of Starbucks common stock on April 27, 2016, the last trading day prior to the commencement of the offer. The offer is for approximately 0.14 percent of the outstanding shares of Starbucks common stock.

Starbucks does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares. Starbucks is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.

Mini-tender offers are not subject to many of the investor protections afforded to larger tender offers, including the filing of disclosure and other tender offer documents with...