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Article: Honeywell Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation.
- Article from:
- PR Newswire
- Article date:
- February 26, 2008
CopyrightCOPYRIGHT 2008 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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MORRIS TOWNSHIP, N.J., Feb. 26 /PRNewswire-FirstCall/ -- Honeywell has received notification of an unsolicited "mini-tender" offer by TRC Capital Corporation of Toronto (TRC Capital). TRC Capital is offering to purchase up to two million shares, or approximately 0.3%, of the outstanding Honeywell common stock, at a price of $55.50 per share, which represents a 4.16% discount to the $57.91 closing price on the New York Stock Exchange on February 25, 2008, the day prior to the date the offer commenced.
Honeywell does not endorse this offer and recommends against shareowners tendering their shares in response to TRC Capital's unsolicited mini-tender offer.
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