Summary
The Estée Lauder Companies Inc. (NYSE: EL) has issued a formal statement advising its stockholders to reject an unsolicited “mini-tender” offer made by TRC Capital Investment Corporation. TRC’s offer seeks to purchase up to 1,500,000 shares of Estée Lauder’s Class A common stock at a price of $83.65 per share, which is significantly below the current market price. The Company emphasizes that it does not endorse this offer and is not affiliated with TRC or its proposal. According to Estée Lauder, mini-tender offers—such as the one presented by TRC—are designed to acquire less than 5% of a company’s outstanding shares and can therefore bypass many regulatory requirements established by the U.S. Securities and Exchange Commission (SEC). The SEC has warned investors that such offers often feature below-market prices, potentially misleading them into selling their shares at unfavorable rates. It is advised that stockholders monitor the situation closely, consult with their financial advisors, and disregard the TRC offer unless they choose to withdraw shares they may have already tendered. Stockholders are encouraged to obtain current market values for their shares and to carefully consider the risks associated with the TRC offer, which may be subject to various conditions and possible amendments. The expiration date for this particular offer is currently set for October 9, 2024, although TRC retains the right to extend this period at its discretion. Furthermore, the Company requests that a copy of its announcement be included in any distributions related to TRC’s mini-tender offer. About The Estée Lauder Companies Inc., it is recognized as a leader in the global beauty industry, offering premium skin care, makeup, fragrance, and hair care products worldwide, with an extensive portfolio of luxury brands. The Company operates in approximately 150 countries under various highly regarded brand names.
Original Source: via.tt.se
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