Fastenal Company Recommends Rejection of Below-Market-Price Mini-Tender Offer by TRC Capital Corporation
Fastenal Company (FAST)
Last fastenal company earnings: 4/14 06:50 am
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US:NASDAQ Investor Relations:
investor.fastenal.com
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Source: GlobeNewswire
WINONA, Minn., May 01, 2018 (GLOBE NEWSWIRE) -- Fastenal Company (Nasdaq:FAST) has been notified of an unsolicited 'mini-tender offer' made by TRC Capital Corporation ('TRC') to Fastenal's shareholders to purchase up to 2,000,000 shares of Fastenal's common stock at a price of $48.63 per share. TRC's offer price represents a discount of $2.39 per share, or 4.68 percent, below Fastenal's closing price of $51.02 on April 27, 2018, the last trading day prior to the date of the offer. The shares sought by TRC represent approximately 0.695 percent of Fastenal’s total outstanding shares of common stock. The Securities and Exchange Commission (SEC) has issued an investor alert regarding mini-tender offers, noting that in making the offers at below-market prices bidders are "hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's investor alert can be found on the SEC website athttp://www.sec.gov/investor/pubs/
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Earnings
- 4/11/24 - Miss
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Sec Filings
- 4/18/24 - Form 4
- 4/16/24 - Form 10-Q
- 4/11/24 - Form 8-K
- FAST's page on the SEC website