The Home Depot has been notified that TRC Capital has made an unsolicited “mini-tender” offer to purchase up to 500,000 shares of Home Depot’s common stock, at an offer price of $280 per share. TRC Capital’s offer price of $280 per share is approximately 4.47% lower than the closing price of Home Depot common stock on the New York Stock Exchange on June 5, 2023, the last trading day prior to the date of the offer, June 6, 2023. The Home Depot does not endorse TRC Capital’s unsolicited mini-tender offer and recommends that shareholders do not tender their shares in response to TRC Capital’s offer because the offer is at a price significantly below the current market value of Home Depot common stock. Per the terms of the offer, any shareholders who tender their shares can withdraw them prior to the expiration of the offer, currently scheduled for 12:01 a.m., New York City time, on July 7, 2023, in accordance with the offering documents.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See the top stocks recommended by analysts >>
Read More on HD:
- Home Depot price target raised to $349 from $337 at Jefferies
- Home Depot price target raised to $300 from $280 at Loop Capital
- Home Depot investor event ‘hit positive tone’, says Citi
- Home Depot price target raised to $330 from $310 at Baird
- CEO Decker tells CNBC Home Depot ‘super bullish’ on housing long-term