Western Digital Recommends Shareholders Reject "Mini-tender Offer"

[HardOCP News]

Western Digital® Corporation ("Western Digital" or the "Company") today announced that it has received notice of an unsolicited "mini-tender offer" by TRC Capital Corporation to purchase up to 2,500,000 shares, or approximately 0.89 percent of Western Digital's outstanding shares of common stock as of the date of the offer. TRC Capital's offer price is $42.95, 4.53 percent lower than the closing price of Western Digital's shares on May 27, 2016, the first business day prior to the date of the offer.

Western Digital recommends that stockholders do not tender their shares in response to TRC Capital's offer because the offer is at a price below the current market price for Western Digital's shares and subject to numerous conditions. Western Digital is not affiliated or associated in any way with TRC Capital, its mini-tender offer or the offer documentation. Western Digital urges stockholders to obtain current market quotations for their shares, review the conditions to the offer, consult with their broker or financial adviser, and exercise caution with respect to TRC Capital's offer.

 

[DocSavage]

First result on a google search on TRC Capital Corporation: TRC Capital and the Mini-Tender Menace — PPL, PCG, PEG, APC, DUK — Investing Daily

 

[BloodyIron]

Isn't a shareholder naturally going to look at the market rate? Especially if it's publicly traded?

 

[Deleted member 126051]

Isn't a shareholder naturally going to look at the market rate? Especially if it's publicly traded?

Should they? Of course they should.

But you forget that some people are just freakin' idiots.