Estée Lauder Companies Inc. Advises Shareholders to Decline TRC Capital’s Mini-Tender Offer

Summary

The Estée Lauder Companies Inc. (NYSE: EL) has received notification that TRC Capital Investment Corporation has initiated an unsolicited “mini-tender” offer to acquire up to 1,500,000 shares of the Company’s Class A common stock for $83.65 each. This represents roughly 0.64% of the outstanding shares. The Company does not support this offer and advises stockholders against tendering their shares, as the proposed price is below the current market value and is subject to various conditions. Estée Lauder wishes to clarify that it is not affiliated with TRC or the mini-tender offer, which attempts to gather less than 5% of a company’s shares to evade certain U.S. Securities and Exchange Commission (SEC) regulations designed to protect investors. The SEC has previously warned investors that mini-tender offers often come at below-market prices, potentially leading to unwise financial decisions. Investors are encouraged to verify the current market prices, consult with financial advisors, and be attentive to any amendments to the offer from TRC. For those stockholders who have already submitted their shares, they can withdraw them prior to the offer’s expiration date of October 9, 2024, in accordance with TRC’s documentation. Estée Lauder urges brokers and market participants to review the SEC’s guidelines regarding mini-tender offers to ensure compliance and investor protection. The Company further requests the inclusion of this announcement in any communications pertaining to TRC’s mini-tender offer. About The Estée Lauder Companies Inc. The Estée Lauder Companies Inc. stands as a prominent global manufacturer and marketer of high-quality skincare, makeup, fragrances, and hair care products, representing an array of luxury brands in over 150 countries. Their brand portfolio includes renowned names such as Estée Lauder, Clinique, and M·A·C, among others. For more information, please contact: Investors: Rainey Mancini Email: [email protected] Media: Jill Marvin Email: [email protected]

Original Source: via.ritzau.dk