Alexion Pharmaceuticals Inc. Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation
Published: Feb 07, 2013
CHESHIRE, Conn.--(BUSINESS WIRE)--Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) has been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 1.5 million shares, or approximately 0.77%, of the outstanding Alexion common stock at a price of $90.50 per share. TRC's offer price represents approximately a 5.06% discount to the closing price of Alexion common stock on February 5, 2013, the last closing price on the day prior to the date of the offer. In addition, TRC's offer is subject to numerous conditions. Alexion does not endorse TRC's offer and recommends that shareholders reject the offer and do not tender their shares. This offer is a so-called "mini-tender" offer at a price below the current market price for Alexion shares and is subject to numerous conditions. Alexion urges shareholders considering TRC's offer to obtain current market quotations for their shares, review the conditions to the offer, consult with their broker or financial adviser and exercise caution with respect to TRC's offer. Alexion is not associated in any way with TRC, its mini-tender offer or the offer documentation.