TRC Makes "Mini Offer" for First Solar Shares

First Solar (NASDAQ: FSLR  ) has received an unsolicited "mini offer" for a small block of its stock. The offering party is private investment boutique TRC Capital, which has proposed buying up to 2 million shares (around 2.3% of the outstanding amount) of the company for $30 apiece in cash.

The stock currently trades at around that level.

First Solar responded negatively to TRC Capital's move, saying in a news release that it "does not endorse TRC's mini-tender offer and recommends that First Solar stockholders do not tender their shares in response to the offer because it is a mini-tender offer at a price below the market price for First Solar shares."

So-called "mini" offers are solicitations for small blocks of stock. Typically, they target positions under 5% of outstanding shares and as such are not subject to some of the disclosure rules mandated by larger bids.


Read/Post Comments (0) | Recommend This Article (1)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2216757, ~/Articles/ArticleHandler.aspx, 11/22/2014 7:19:43 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...


Advertisement