Organon Recommends Stockholders Reject Below-Market Mini-Tender Offer by TRC Capital Investment Corporation
Organon & Co. (OGN)
Company Research
Source: Business Wire
JERSEY CITY, N.J.--(BUSINESS WIRE)--Organon (NYSE: OGN) has been notified of an unsolicited mini-tender offer by TRC Capital Investment Corporation (“TRC”) to purchase up to 3,000,000 shares of Organon common stock from Organon stockholders, representing approximately 1.18% of the outstanding shares of Organon common stock.TRC stated in the mini-tender offer that its offer price of $28.63 per share is approximately 4.5% lower than the $29.98 closing price per share of Organon common stock on the New York Stock Exchange on June 18, 2021, the last trading day before the commencement of the offer.Organon does not endorse TRC’s mini-tender offer and recommends that stockholders reject this unsolicited offer by not tendering their shares. TRC’s offer price is below the market value for shares of Organon common stock (as of the day prior to the offer) and is subject to numerous conditions, including TRC’s ability to obtain financing and a condition that there shall not have been any dec
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