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United Technologies Recommends Shareholders Reject TRC Capital "Mini-Tender" Offer

2014-12-20 03:03:25| Paper - Topix.net

United Technologies Corp. received notice of an unsolicited mini-tender offer by TRC Capital Corporation to purchase up to 1 million shares, or about 0.11 percent, of UTC's outstanding common stock at a price of $108.85 per share in cash. As TRC Capital's own offer document acknowledges, the offering price is approximately 4.55 percent below the closing price per share of UTC on Dec. 11, 2014, the last trading day before the mini-tender offer was commenced.

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