PayPal has been notified of an unsolicited mini-tender offer by TRC Capital to purchase up to up to 2M shares of PayPal common stock, representing significantly less than one percent of PayPal’s common stock outstanding. The offering price of $71.36 per share is 4.42% below the closing price per share of PayPal’s common stock on February 17. PayPal recommends that stockholders do not tender their shares in response to TRC’s offer because the offer is below the current market price of PayPal’s shares and is subject to numerous conditions, including TRC Capital obtaining financing for the offer. There is no guarantee the conditions of the offer will be satisfied. Stockholders who have already tendered their shares may withdraw them at any time by providing notice in the manner described in the TRC offering documents prior to the expiration of the offer, which is currently scheduled for 12:01 a.m. EDT on March 22, unless extended. PayPal does not endorse TRC unsolicited mini-tender offer and is not affiliated or associated in any way with TRC, its mini-tender offer, or its mini-tender offer documents.
Published first on TheFly
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