Thursday 03. February 2011
Adobe Recommends Rejection of Below-Market Mini-Tender Offer by TRC Capital Corporation
Adobe Systems Incorporated (Nasdaq:ADBE) has been notified of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 3 million shares, or less than 0.58 percent, of outstanding Adobe common stock at a price of $32.00 per share in cash. TRC’s offer price is approximately 4.53 percent less than the $33.52 closing price of Adobe common stock on Jan. 26, 2011, the day before the offer commenced.