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Article: Colgate-Palmolive Company Responds to Below-Market Mini-Tender Offer From TRC Capital Corporation.
- Article from:
- PR Newswire
- Article date:
- July 8, 2005
CopyrightCOPYRIGHT 2005 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK, July 8, 2005 /PRNewswire-FirstCall/ -- Colgate-Palmolive Company announced it has received notice of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 2 million of Colgate's common shares, which represent less than 0.4% of the shares outstanding. TRC Capital's unsolicited offer of $48.25 per share was 3.8% below the $50.15 per share closing price on Colgate's common shares on June 27, 2005, the day before the offer commenced.
Colgate does not in any way recommend or endorse TRC's mini-tender offer and expresses no opinion as to whether Colgate shareholders should tender their shares in the mini-tender offer. Colgate is ...