Cardinal Health (NYSE:CAH) last week warned investors about a mini-tender offer from TRC Capital to acquire 2 million CAH shares at about 5% below their market price.
Mini-tenders, because they fall below the U.S. Securities & Exchange Commission’s reporting threshold, are used to catch investors by surprise, according to the regulatory watchdog.
“‘Mini-tender’ offers are tender offers that, when consummated, will result in the person who makes the tender offer owning less than five percent of a company’s stock.
