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Wheaton Precious Metals Recommends Shareholders Reject TRC Capital's "Mini-Tender" Offer
Wheaton Precious Metals Recommends Shareholders Reject TRC Capital's "Mini-Tender" Offer ...
About this update from Wheaton Precious Metals Corp
[{"type":"text","content":"\n\n\n\nWheaton Precious Metals Recommends Shareholders Reject TRC Capital's \"Mini-Tender\" Offer\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\nCanada NewsWire\nVANCOUVER, June 12, 2017\n\n\n\n\n \nTSX: WPMNYSE: WPM\n\n \n\n \n \n\nVANCOUVER, June 12, 2017 /CNW/ - Wheaton Precious Metals™ Corp. (\"Wheaton\" or the \"Company\") (TSX:WPM) (NYSE:WPM) has been notified of an unsolicited \"mini-tender\" offer made by TRC Capital Corporation (\"TRC Capital\") to purchase up to 5,000,000 Wheaton common shares, or approximately 1.1% of the common shares outstanding, at a price of CAD$26.75 per share in cash. Wheaton does not endorse this unsolicited mini-tender offer and recommends that shareholders do not tender their shares in response to the offer. \n\nWheaton cautions shareholders that the mini-tender offer has been made at a price below market, representing a discount of 4.57% to the closing price of Wheaton common shares on the Toronto Stock Exchange and a discount of 4.69% to the closing price of Wheaton common shares on the New York Stock Exchange on June 6, 2017, the last trading day before the mini-tender offer was commenced. In addition, the offer is subject to a number of conditions. \n\nWheaton is not associated with TRC Capital, its mini-tender offer or the mini-tender offer documentation.  \n\nTRC Capital has made similar unsolicited mini-tender offers for shares of numerous other public companies. Mini-tender offers are designed to seek less than 5% of a company's outstanding shares, thereby avoiding many disclosure and procedural requirements applicable to most bids under Canadian and United States securities legislation. \n\nThe Canadian Securities Administrators (CSA) have expressed serious concerns about mini-tender offers, such as the possibility that investors might tender to a mini-tender offer based upon a misunderstanding of the terms of the offer, including the per securities price available under the offer relative to the market price of such securities. Comments from the CSA on mini-tenders can be found on the Ontario Securities Commi...