Loblaw Companies Limited Cautions Investors Regarding TRC Capital's Below-Market "Mini-Tender" Offer

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[{"type":"text","content":"\n \n \n \n Loblaw Companies Limited Cautions Investors Regarding TRC Capital's Below-Market \"Mini-Tender\" Offer\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 BRAMPTON, ON\n \n \n ,\n \n \n Aug. 25, 2023\n \n \n /CNW/ - Loblaw Companies Limited (TSX: L) (\"Loblaw\") has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation (\"TRC Capital\") to purchase up to 1 million Loblaw common shares, or approximately 0.0032% of the common shares outstanding, at a below-market price of\n \n CAD$111.11\n \n per share.\n \n \n Loblaw cautions shareholders that the mini-tender offer has been made at a price below recent market prices, representing a discount of 4.15% to the closing price of Loblaw's common shares on the Toronto Stock Exchange on\n \n August 15, 2023\n \n , the last trading day before the mini-tender offer commenced.\n \n \n \n Loblaw is not associated with TRC Capital or its offer and does not recommend or endorse this unsolicited mini-tender offer.\n \n \n \n TRC Capital has made similar unsolicited mini-tender offers for shares of several other public companies. Mini-tender offers are designed to avoid disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. Both the Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) recommend that investors exercise caution with mini-tender offers and have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.\n \n \n The CSA's long-standing guidance on mini-tenders can be found on the Ontario Securities Commission website at\n \n www.osc.gov.on.ca/en/SecuritiesLaw_csa_19991210_61-301.jsp\n \n .\n \n \n The SEC has published investor tips about mini-tender offers, which can be found on its website at\n \n https://www.sec.gov/reportspubs/investor-publications/investorpubsminitend\n \n .\n \n ...

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