onsemi Recommends Stockholders Reject Below-Market Mini-Tender Offer by TRC Capital Investment Corporation
ON Semiconductor Corporation (ON)
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onsemi.com/powersolutions/content.do?id=1116
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Source: Business Wire
SCOTTSDALE, Ariz.--(BUSINESS WIRE)--ON Semiconductor Corporation (Nasdaq: ON) (“onsemi”) disclosed today that it has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation, an Ontario corporation (“TRC Capital Investment”). onsemi is not affiliated or associated in any way with TRC Capital Investment, its mini-tender offer or its offer documentation.The offer is for the purchase of up to 1.5 million shares of onsemi’s common stock at a price of $70.75 per share, approximately 4.4% lower than the $74.04 closing share price of onsemi’s common stock on March 19, 2024, the trading day immediately prior to the date of the offer. The offer represents approximately 0.35% of the shares of onsemi’s common stock outstanding as of the March 20, 2024 offer date.onsemi urges investors to obtain current market quotations for their shares, to consult with their broker or financial advisor, and to exercise caution with respect to TRC Capital Investment’s offer.
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News
- Onsemi (NASDAQ: ON) is now covered by analysts at Jefferies Financial Group Inc.. They set a "buy" rating and a $100.00 price target on the stock.MarketBeat
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- ON Semiconductor Corporation (NASDAQ:ON) Q1 2024 Earnings Call Transcript [Yahoo! Finance]Yahoo! Finance
- Onsemi (NASDAQ: ON) had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $90.00 to $85.00. They now have a "buy" rating on the stock.MarketBeat
ON
Earnings
- 4/29/24 - Beat
ON
Sec Filings
- 5/23/24 - Form SD
- 5/22/24 - Form 8-K
- 5/17/24 - Form 4
- ON's page on the SEC website