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Article: MetLife Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation.
- Article from:
- Business Wire
- Article date:
- February 12, 2008
CopyrightCOPYRIGHT 2008 Business Wire. 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 -- MetLife, Inc. (NYSE: MET) has received notification of an unsolicited mini-tender offer by TRC Capital Corporation of Toronto (TRC). TRC is offering to purchase up to two million shares, or approximately 0.27%, of the outstanding MetLife common stock, at a price of $55 net per share, which represents a 2.99% discount to the $56.70 closing price on the New York Stock Exchange on February 5, 2008, the day prior to the date the offer commenced.
MetLife does not endorse this offer and recommends that stockholders not tender their shares in response to the mini-tender offer. MetLife has no affiliation whatsoever with TRC, its offer or the offer ...