Monsanto target of unsolicited mini-tender offer
Toronto-based TRC Capital Corp. has made an unsolicited mini-tender offer to Monsanto Co. shareholders to buy up to 2 million shares of Monsanto common stock, the St. Louis Business Journal reported. The offer price of $54.15 per share was $3.15 below Monsanto’s closing price of $57.30 on Tuesday, the date of the offer, which expires Nov. 17. Monsanto warned shareowners not to tender their shares because the offer price is below the company’s current share price. Mini-tender offers are for less than 5 percent of a company’s stock and typically do not require disclosure filings.
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