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

Editors Pick
Retailers could see record web traffic this year as more consumers then ever before plan to shop online, according to Deloitte's 31st annual holiday survey of consumer spending intentions and trends. The survey found that holiday shoppers this year plan to spend just as much as online as they spend in brick and mortar stores. Oil giant Chevron Corp. on Friday reported a 37 percent decline in profit for the third quarter from last year, reflecting lower oil prices and weak refining margins. However, both revenue and earnings per share for the quarter beat analysts' estimates. In addition, the company raised its quarterly dividend. Mastercard Inc. (MA) reported a profit for the third quarter of 2016 that increased about 21 percent from the year-ago period, while it was up 15% excluding a special item related to the termination of the U.S. employee pension plan taken in last year's third quarter. Both earnings per share and revenue for the quarter beat analysts' expectations.
comments powered by Disqus
Follow RTT