TRC Capital has made many similar unsolicited mini-tender offers for shares of other public companies. The SEC's guidance to investors on mini-tenders is available at. In a statement to investors, the Securities and Exchange Commission (SEC) cautioned investors that some bidders make mini-tender offers at below-market prices, saying it believes that these bidders are, 'hoping that they will catch investors off-guard if the investors do not compare the offer price to the current market price.' TRC Capital's mini-tender offer seeks less than 5 percent of Cardinal Health's outstanding common shares, thereby avoiding many disclosure requirements and procedural protections of U.S. Shareholders who have already tendered their shares may withdraw them at any time prior to 12:01 a.m., New York City time, on Wednesday, April 4, 2018, in accordance with the offering documents.

The offer price of $65.85 per share is approximately 4.48 percent below the closing price of Cardinal Health's common shares on March 2, 2018, the last trading day before the commencement of TRC Capital's offer.Ĭardinal Health does not endorse TRC Capital's unsolicited mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer or its mini-tender offer documents.īecause TRC Capital's offer price is below the current market price for Cardinal Health's common shares, Cardinal Health recommends that shareholders do not tender their shares to TRC Capital. (NYSE: CAH) today announced that it has received notice of an unsolicited 'mini-tender' offer by TRC Capital Corporation (TRC Capital) to purchase up to 2 million of Cardinal Health's common shares, representing approximately 0.64 percent of Cardinal Health's common shares outstanding. DUBLIN, Ohio, Ma/PRNewswire/ - Cardinal Health, Inc.

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