Capital One urges shareholders to reject mini-tender offer by TRC Capital

Capital One Financial has been notified of an unsolicited mini-tender offer by TRC Capital Investment to purchase up to 1,500,000 shares of COF common stock, representing less than one percent of COF’s common stock outstanding. The offering price of $93.47 per share is 4.46 percent below the closing price per share of COF’s common stock on April 17, the last trading day prior to the date of the offer, April 18. The company recommends that common stockholders who have not responded to TRC’s offer take no action. COF common stockholders who have already tendered their shares may withdraw their shares by providing the written notice described in the TRC offering documents prior to the expiration of the offer, currently scheduled for 12:01 a.m., New York City Time on May 17. The company further recommends that stockholders do not tender their shares in response to TRC’s offer because the offer is subject to numerous conditions, including TRC obtaining financing for the offer. There is no guarantee the conditions of the offer will be satisfied.