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Kansas City Southern Calls for Shareholders to Reject TRC Capital's Mini Tender Offer

05/10/2021 08:34

12:20 PM EDT, 05/10/2021 (MT Newswires) -- Kansas City Southern (KSU) has received notice of an unsolicited mini tender offer by TRC Capital Investment to acquire up to 500,000 shares, or approximately 0.55% of the transportation holding company's outstanding common stock, for $285 per share in cash.

The offering price is approximately 2.5% below the stock's closing price on April 30, the last trading day before the mini-tender offer was launched.

The company said it does not endorse the offer and recommends that shareholders not tender any shares. Kansas City Southern also called on shareholders who have already tendered shares to withdraw the shares by providing written notice as described in the offering documentation before it expires June 2.

Price: 308.39, Change: +3.17, Percent Change: +1.04