Barrick Gold has advised its shareholders to reject an unsolicited mini-tender offer from TRC Capital Investment, which seeks to purchase approximately 0.29% of the company’s outstanding common stock.
In a statement released Monday, Barrick Gold confirmed it had received a notice regarding the offer, in which TRC Capital proposed buying up to 5 million of Barrick’s common shares at a price of C$21.35 each. This price is notably below the current market value of Barrick’s stock.
TRC Capital, which has previously made similar unsolicited mini-tender offers for shares in other major public companies such as Occidental Petroleum and Johnson & Johnson, is offering to acquire no more than 5% of Barrick’s shares—a hallmark of mini-tender offers.
Shareholders are urged to carefully evaluate the proposal before making any decisions.
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