logo
Share SHARE
FONT-SIZE Plus   Neg

Marvell Asks Shareholders To Reject TRC Capital's Mini-Tender Offer

Marvell Technology Group Ltd. (MRVL) Monday said it did not endorse a mini-tender offer by TRC Capital Corp., and asked that shareholders not tender their shares in the offer. TRC Capital sought to purchase up to 6 million shares at $15 per share, Marvell added.

The offer price, Marvell elaborated, was 4.94 percent lower than the closing price on March 22, 2012, the date of the offer's commencement. Marvell also noted that TRC Capital had earlier made similar offers for other companies' shares.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Senate Republicans released a draft of their version of legislation to repeal and replace Obamacare on Thursday, with a vote on the 142-page bill expected as soon as next week. The bill, called the Better Care Reconciliation Act, repeals Obamacare's individual and employer mandates as well as the... A local cable and broadband provider in Texas has filed a lawsuit against Comcast Corp., alleging that the cable giant and its contractors drove it out of business by severing its business cable lines after it rejected Comcast's buyout offer. The lawsuit was filed last week in Harris County, Texas, court by Anthony Luna, owner of Telecom Cable LLC. John Oliver, the host of HBO's Sunday Show "Last Week Tonight," HBO and Time Warner have been sued by coal baron Robert Murray for mocking him and his coal company on the show's most recent episode. Murray had previously sent the show its first cease-and-desist letter.
comments powered by Disqus
Follow RTT