General Electric Recommends Shareholders To Reject Offer By TRC Capital Investment

by Akanksha Bakshi, Benzinga Editor
October 1, 2021 3:23 PM | 1 min read |
  • General Electric Company GE received notice of an unsolicited "mini-tender" offer by TRC Capital Investment Corporation to purchase up to 1 million shares of GE common stock, representing ~0.09% of the shares outstanding, for $99/share in cash. 
  • TRC Capital's offer price is 4.62% less than the $103.80 closing price on September 24, 2021, the last trading day before the mini-tender offer commenced.
  • The company said it does not endorse TRC Capital's unsolicited mini-tender offer and recommends that GE shareholders do not tender their shares in the proposal because the offer is below the current market price for GE's shares.
  • Price Action: GE shares are trading higher by 3.16% at $106.29 on the last check Friday.
Market News and Data brought to you by Benzinga APIs

© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Comments
Posted In: NewsBriefs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!