Pfizer Inc. Recommends Rejection of Mini-Tender Offer by TRC Capital Corporation

NEW YORK--(BUSINESS WIRE)--Pfizer Inc (NYSE: PFE) has been notified of an unsolicited “mini-tender offer” by TRC Capital Corporation of Toronto (TRC) for TRC to purchase in cash up to four million shares, or approximately 0.057%, of the outstanding Pfizer common stock, at a price of $25.00 per share. TRC’s offer price of $25.00 per Pfizer share represents a 2.31% discount to the closing price on June 26, 2007, the day before the commencement of TRC’s unsolicited mini-tender offer, and a 3.55% discount to the closing price of $25.92 on Friday, July 6, 2007.

MORE ON THIS TOPIC