McKesson shareholders advised to take no action on TRC Capital Corp. mini-tender offer

On Dec. 15, TRC Capital Corp. (TRC Capital) offered investors $182 per share for McKesson Corp.’s common stock.

The unsolicited offer seeks to buy up to 1 million shares of McKesson stock. The offer is 4.5 percent below the closing stock price on Dec. 14, and $15.30 less than the closing price per share on Dec. 22.

The U.S. Securities and Exchange Commission (SEC) warns investors to beware of mini-tender offers. The offer may be a below-market price that allows the bidder to obtain stocks at a discount rate. TRC Capital’s mini-tender offer is for less than 5 percent of McKesson’s shares, ensuring that it is not subject to the disclosure rules of the SEC.

McKesson Corp. recommends that investors take no action on the offer. McKesson has no association with TRC Capital or the mini-tender offer and does not endorse or recommend the offer to its investors. In addition, shareholders who have accepted the offer can withdraw their shares before 12:01 a.m. EST on Jan. 15.

McKesson Corp. provides health care services and information technology to a variety of organizations, including hospitals, payers, pharmacies and physicians offices. It is ranked 11th on the Fortune 500.