Murphy Oil Corp. (MUR) Tuesday recommended its shareholders to reject an unsolicited "mini-tender" offer from TRC Capital Corp. to buy up to 2 million shares, or 1.05 percent of stake, at $61.00 per share.
According to Murphy Oil, the mini-tender offer is at a price below the current market price. The offer bid of $61.00 was 4.78 percent below Murphy's closing share price on May 8, 2013, the day prior to the offer.
Murphy said it does not endorse TRC's offer and recommends that shareholders reject the offer and not tender their shares.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.