TransCanada Corporation said it is rejecting an offer from TRC Capital Corporation to purchase up to 2,500,000 common shares of TransCanada.
The offer is representing approximately 0.28 per cent of TransCanada’s outstanding common shares at a price of CDN $55.35 per common share. TransCanada does not endorse this unsolicited mini-tender offer.
TransCanada said in a statement that its shareholders are cautioned that the mini-tender offer has been made at a 4.32 per cent discount to the closing price of TransCanada’s common shares on the Toronto Stock Exchange on August 14, 2018, the last trading day before the mini-tender offer was announced.
Any person considering tendering to the offer should consult his or her financial advisor.
TransCanada does not endorse TRC Capital’s unsolicited mini-tender offer and is not associated with TRC Capital, the mini-tender offer, or the offer documentation. TRC Capital has made similar unsolicited mini-tender offers for shares of other companies.
According to TRC Capital’s offer documents, TransCanada shareholders who have already tendered their shares may withdraw their shares at any time before 12:01 a.m. (EDT) on September 14, 2018, by following the procedures described in the offer documents.