TRC Makes "Mini Offer" for First Solar Shares

First Solar has received an unsolicited "mini offer" for a small block of its stock. The offering party is private investment boutique TRC Capital, which has proposed buying up to 2 million shares (around 2.3% of the outstanding amount) of the company for $30 apiece in cash.

The stock currently trades at around that level.

First Solar responded negatively to TRC Capital's move, saying in a news release that it "does not endorse TRC's mini-tender offer and recommends that First Solar stockholders do not tender their shares in response to the offer because it is a mini-tender offer at a price below the market price for First Solar shares."

So-called "mini" offers are solicitations for small blocks of stock. Typically, they target positions under 5% of outstanding shares and as such are not subject to some of the disclosure rules mandated by larger bids.

The article TRC Makes "Mini Offer" for First Solar Shares originally appeared on Fool.com.

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