Coterra Energy Recommends Stockholders Reject "Mini-Tender" Offer by TRC Capital Investment Corporation
Coterra Energy Inc. (NYSE: CTRA) (“Coterra”) today announced that it has received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 4,000,000 shares of Coterra’s common stock, or approximately 0.5% of Coterra’s outstanding shares, at an offer price of $25.50 per share.
- Coterra Energy Inc. (NYSE: CTRA) (“Coterra”) today announced that it has received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation ("TRC Capital") to purchase up to 4,000,000 shares of Coterra’s common stock, or approximately 0.5% of Coterra’s outstanding shares, at an offer price of $25.50 per share.
- Coterra does not endorse TRC Capital's unsolicited mini-tender offer and recommends that stockholders do not tender their shares in response to TRC Capital's offer because the offer is at a price that is significantly below the current market value of Coterra’s common stock.
- Coterra urges stockholders who have not responded to TRC Capital's mini-tender offer to take no action.
- Coterra is not affiliated or associated in any way with TRC Capital, its mini-tender offer or its mini-tender offer documents.