Home Depot issued a notice this week advising shareholders to reject a “mini-tender” offer from a Canadian investment firm. Toronto-based TRC Capital has tendered an offer that’s almost five percent below Home Depot’s recent trading price, thereby avoiding many disclosure and procedural requirements of the SEC in the U.S. and securities regulation in Canada designed to protect shareholders.
(We’ll have more intel on this unconventional—and controversial—share acquisition strategy in Monday’s edition of our Hardlines Weekly Report! If you’re not receiving the Hardlines Weekly Report every Monday morning, you’re not getting the full story. Click here for a free trial!)