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
Toyota accepted the resignation of its Chief Communications Officer Julie Hamp, following her arrest in Japan for allegedly mailing banned painkillers to her address in Japan from U.S. PayPal has agreed to buy Xoom, a digital money transfer provider, for $890 million in cash. Following the announcement, Xoom shares jumped 22 percent in after-hours trade on the Nasdaq. Discount retailer Family Dollar Stores Inc., which is being acquired by rival Dollar Tree Inc., said Wednesday after the markets closed that its third quarter profit fell slightly from last year, due mainly to a higher effective tax rate. The company's quarterly earnings per share, excluding items, also came in below analysts' expectations.
comments powered by Disqus
RELATED NEWS
Trade MRVL now with 
Follow RTT