GlaxoSmithKline Advises ADS Holders to Reject TRC Capital Tender Offer
June 04 2021 - 11:43AM
Dow Jones News
By Ian Walker
GlaxoSmithKline PLC on Friday advised holders of American
Depositary Shares to reject a mini tender offer by TRC Capital
Investment Corporation as the price offered falls short of their
trading price.
Glaxo said it has been notified that TRC Capital has offered to
buy up to 3 million ADS' for $37.10 each, in cash. It added that
the price offered is a 4.5% discount to the closing price of $38.85
per ADS on May 21, the last trading day before the offer started.
ADS' closed at $38.71 on Thursday.
"This mini-tender offer is at a price below the closing price
for GSK's ADSs (as of the last trading day prior to the offer) and
is subject to numerous conditions," Glaxo said Friday.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
June 04, 2021 11:35 ET (15:35 GMT)
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