Intel Corp. (INTC), the world's biggest chipmaker, said Tuesday that it recently learned of an unsolicited "mini-tender offer" made by TRC Capital Corp. to Intel shareholders to purchase up to 4 million shares of Intel common stock at $23.75 per share.
TRC Capital's offer price is about 4.96% below the $24.99 closing share price of Intel common stock on June 13, the day before the offer commenced, and the offer is for less than 1% of Intel's outstanding shares.
Intel said it does not endorse TRC Capital's mini-tender offer and recommends that Intel shareholders reject the offer and not tender their shares in response to the offer. TRC Capital has made many similar mini-tender offers for shares of other companies.
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