US: TRC Capital offers to buy 2.3% of First Solar

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.