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Manulife cautions investors regarding New York Stock and Bond LLC offer for shares
Manulife cautions investors regarding New York Stock and Bond LLC offer for shares Cana...
About this update from Manulife Financial Corporation
[{"type":"text","content":"\n\n\n\n Manulife cautions investors regarding New York Stock and Bond LLC offer for 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 C$ unless otherwise stated                                            TSX/NYSE/PSE: MFC     SEHK: 945\n \n\n\n\n TORONTO\n \n\n ,\n \n\n April 3, 2025\n \n\n /CNW/ - Manulife has been notified of an unsolicited mini-tender offer made by New York Stock and Bond LLC (\"NYSB\") to purchase up to 250,000 Manulife common shares, or less than 0.02% of the common shares outstanding, at a price of\n \n USD$18.50\n \n per share.\n \n\n\n\n\n\n\n\n\n\n Manulife is in no way associated with NYSB and does not recommend or endorse acceptance of this unsolicited offer.\n \n\n\n Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately 34.98% and 34.88%, respectively, below the closing prices of Manulife common shares on the TSX and NYSE on\n \n March 13, 2025\n \n , the last trading day before the mini-tender offer was commenced, and a discount of 41.61% and 41.75%, respectively, below the closing prices on the TSX and NYSE on\n \n April 1, 2025\n \n .\n \n\n Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, avoiding disclosure and procedural requirements applicable to most bids under Canadian and U.S. securities regulations. The Canadian Securities Administrators (CSA) and the U.S. Securities and Exchange Commission (SEC) 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 SEC states that \"bidders make mini-tender offers at below-market pr...