Pfizer Inc. (PFE) announced it has received notice of an unsolicited mini-tender offer by TRC Capital to purchase up to 4 million shares of Pfizer common stock at a price of $31.60 per share in cash. The offer is for approximately 0.067 percent of the shares of Pfizer common stock outstanding as of the May 15, 2017 offer date.
Pfizer said the company does not endorse TRC Capital's unsolicited mini-tender offer and recommends that stockholders do not tender their shares in response to TRC Capital's offer because the offer is at a price below the current market price for Pfizer's shares and subject to numerous conditions.
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