MONTREAL – BCE is asking its shareholders to turn down an unsolicited mini-tender offer made by TRC Capital Corporation.
The company said Friday that TRC Capital is seeking to purchase up to 2 million BCE common shares, or approximately 0.23% of the company's outstanding common shares, at a price below market price for BCE shares.
“The offer represents a discount of 3.48% on the TSX closing price and 3.47% on the NYSE closing price for BCE common shares on March 7, 2017, the last trading day before the mini-tender offer was commenced”, reads the statement by BCE.
The statement added that TRC Capital has made similar unsolicited mini-tender offers for shares of other public companies in Canada and elsewhere.
