RPM International urges stockholders to reject a 'mini-tender' offer from TRC Capital
The Medina-based specialty coating and sealants manufacturer said it received an offer from TRC Capital, a private investment firm, to buy up to 1.5 million shares, or about 1.15%, of the company's common stock at a price of $82.50 per share in cash. RPM said TRC Capital's offering price was 5.5% below the closing price per share of RPM stock as of Monday, Feb. 8, and was 4.6% below the closing price Friday, Feb. 5, the last trading day before the mini-tender offer was made.
RPM International urges stockholders to reject a 'mini-tender' offer from TRC Capital
The Medina-based specialty coating and sealants manufacturer said it received an offer from TRC Capital, a private investment firm, to buy up to 1.5 million shares, or about 1.15%, of the company's common stock at a price of $82.50 per share in cash. RPM said TRC Capital's offering price was 5.5% below the closing price per share of RPM stock as of Monday, Feb. 8, and was 4.6% below the closing price Friday, Feb. 5, the last trading day before the mini-tender offer was made.