Merck Recommends Rejection of TRC Capital’s “Mini-Tender” Offer
Merck & Company, Inc. (new) (MRK)
Last merck & company, inc. (new) earnings: 4/28 06:45 am
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Source: Business Wire
KENILWORTH, N.J.--(BUSINESS WIRE)--Merck & Co., Inc. (NYSE:MRK), known as MSD outside the United States and Canada, has been notified that TRC Capital Investment Corporation (TRC Capital) has commenced an unsolicited “mini-tender” offer, dated March 26, 2020, to purchase up to 1,500,000 shares of Merck common stock at $73.35 per share. The offer price is approximately 4.4% below the closing price of the Merck common stock on March 13, 2020 ($76.75), the last trading day before the date of the offer, but approximately 2.8% above the closing price of the Merck common stock today March 20, 2020 ($71.36).Merck does not endorse TRC Capital’s offer and recommends that Merck shareholders reject the offer and not tender their shares in response to TRC Capital’s unsolicited mini-tender offer. This mini-tender offer is at a price below the closing price for Merck’s shares (as of the day prior to the offer) and is subject to numerous conditions, including TRC Capital’s ability to obtain fina
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