2023-05-08 05:55:21 ET
- Catalent ( NYSE: CTLT ) on Friday recommended its stockholders to reject a mini-tender offer from TRC Capital Investment to buy up to 2M common shares of the company at $42.95 apiece in cash.
- The company said TRC's offer price is ~4.43% lower than the $44.94 closing price of the company's stock on April 24, the last trading day prior to the date of the mini-tender offer, April 25.
- Catalent noted that it does not endorse TRC’s unsolicited mini-tender offer and recommended its stockholders to not tender their shares as the price was below the current market price and is subject to other conditions.
- In addition, Catalent said that those stockholders who have already tendered their shares may withdraw the shares by giving a written notice as per TRC's offering documents, before expiry of the offer, which is scheduled for May 24, unless extended.
- CTLT +4.71% to $50 premarket May 8
For further details see:
Catalent tells stockholders to rejects TRC Capital's tender offer for shares