Procter & Gamble Urges Shareholders to Reject Mini-Tender Offer
Shares of The Procter & Gamble Company (NYSE: PG) are barely break-even for the year, but that's no reason investors should accept a lower price for them. That's why the consumer products giant is urging shareholders to reject an unsolicited mini-tender offer by Mason Bell, which is looking to acquire 10,000 shares of the stock at a discount.
Procter & Gamble says the investor is offering to buy its stock for $106 per share, more than 12% below the $120 per share its stock was selling at on July 2, the last trading day prior to when the offer was made. Shares closed out last week at over $125 a share, 18% above the buyer's offer.
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Source Fool.com
