Discover Financial Services LLC (DFS) on Monday revealed the acknowledgment of an unsolicited mini-tender offer by TRC Capital Corporation or TRC to purchase up to four million shares of the company. The company stated that the TRC's offer price of $22.00 per share is 3.8% below the share closing price of Discover's common stock on August 7, 2007.
Accordingly, Discover has recommended its shareholders to reject and to not tender their shares to TRC's unsolicited mini-tender offer.
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