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Hydro One Limited recommends shareholders reject TRC Capital's below-market "mini tender" offer for common shares
Hydro One Limited recommends shareholders reject TRC Capital's below-market "mini tender" offer f...
About this update from Hydro One Limited
[{"type":"text","content":"\n \n \n \n Hydro One Limited recommends shareholders reject TRC Capital's below-market \"mini tender\" offer for common shares\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n July 22, 2024\n \n \n /CNW/ - Hydro One Limited (TSX: H) (\"\n \n Hydro One\n \n \") has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation (\"\n \n TRC Capital\n \n \") to purchase up to 2,500,000 common shares of Hydro One (\"\n \n common shares\n \n \"), or approximately 0.42% of the outstanding common shares of Hydro One as at\n \n July 19, 2024\n \n , at a below-market price of\n \n CAD$38.10\n \n per share in cash. Hydro One does not endorse TRC Capital's unsolicited offer, is not affiliated or associated with TRC Capital or its offer and recommends that shareholders do not tender their common shares to the offer.\n \n \n Hydro One cautions shareholders that TRC Capital's offer has been made at a price below recent market prices for the Hydro One common shares. TRC Capital's unsolicited offer price of\n \n CAD$38.10\n \n per share represents a discount of approximately 4.49% to the\n \n CAD$39.89\n \n closing price of the Hydro One common shares on\n \n July 9, 2024\n \n , the last trading day before the mini-tender offer was commenced.\n \n \n Shareholders are urged to obtain current market quotations for their common shares, consult with their broker or financial advisor and exercise caution with respect to TRC Capital's unsolicited offer.  According to TRC Capital's offer documents, Hydro One shareholders who have already tendered their common shares can withdraw their common shares tendered at any time before 11:59 p.m. (Toronto time) on August 9, 2024 by following the procedures described in the offer documents.\n \n \n TRC Capital has made similar unsolicited mini-tender offers for shares of several other public companies in\n \n Canada\n \n and elsewhere. Mini-tender offers are designed to avoid investor protections such as disclosure and procedural ...