US: TRC Capital offers to buy 2.3% of First Solar25. January 2013 | Investor news | By: Max Hall
First Solar has advised shareholders to rebuff an unsolicited 'mini tender' for 2.3% of the company's stock.
TRC Capital Group has offered to pay US$30 per share for 2 million shares, a discount of 5% on First Solar's closing price of $31.58 on January 22, the final day before the approach was made.
Mini tenders are offers for less than 5% of a company's stock. Offers above the 5% threshold have to comply with strict disclosure regulations under the rules of the U.S. national Securities and Exchange Commission.
Keep your finger firmly on the photovoltaic pulse: sign up for our daily newsletter
- 3705 views
- 3545 views
- 3339 views
- 2995 views
- 2766 views
Want to publish your press releases for free? Simply log in or register, enter the information you want to appear and we'll publish it for you!