The Kraft Heinz Company Recommends Stockholders Reject ‘Mini-Tender’ Offer by TRC Capital Corporation
November 16 2016 - 2:08PM
Business Wire
The Kraft Heinz Company (NASDAQ: KHC) (“Kraft Heinz”) has been
notified of an unsolicited “mini-tender” offer by TRC Capital
Corporation (“TRC”) to purchase up to 1.5 million shares of Kraft
Heinz common stock, representing approximately 0.12 percent of
Kraft Heinz’s shares of common stock outstanding. TRC’s offer price
of $77.75 per share is approximately 4.26 percent below the closing
price per share of Kraft Heinz’s common stock on Nov. 11, 2016, the
last trading day before the commencement of the offer.
Kraft Heinz does not endorse TRC’s unsolicited mini-tender offer
and is not associated with TRC, its mini-tender offer, or the
mini-tender offer documents. Because TRC’s offer price is at a
price below the current market price, Kraft Heinz recommends that
stockholders not tender their shares (i.e., take no action) or, if
they have already tendered shares, withdraw their shares by
providing the written notice described in the TRC mini-tender offer
documents prior to the expiration of the offer, currently scheduled
for 12:01 a.m., New York City time, on Wednesday, December 14,
2016.
The SEC has cautioned investors that “some bidders make
mini-tender offers at below-market prices, hoping that they will
catch investors off guard if the investors do not compare the offer
price to the current market price.” TRC has made many similar
unsolicited mini-tender offers for shares of other public
companies.
Stockholders should obtain current market quotations for their
shares, consult with their broker or financial advisor, and
exercise caution with respect to TRC’s mini-tender offer. Kraft
Heinz encourages brokers and dealers, as well as other market
participants, to review the SEC’s letter regarding broker-dealer
mini-tender offer dissemination and disclosure at
http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Kraft Heinz requests that a copy of this press release be
included with all distributions of materials relating to TRC’s
mini-tender offer related to shares of Kraft Heinz’s common
stock.
ABOUT THE KRAFT HEINZ COMPANY
The Kraft Heinz Company (NASDAQ: KHC) is the fifth-largest food
and beverage company in the world. A globally trusted producer of
delicious foods, The Kraft Heinz Company provides high quality,
great taste and nutrition for all eating occasions whether at home,
in restaurants or on the go. The Company’s iconic brands include
Kraft, Heinz, ABC, Capri Sun, Classico, Jell-O, Kool-Aid,
Lunchables, Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia,
Planters, Plasmon, Quero, Weight Watchers Smart Ones and Velveeta.
The Kraft Heinz Company is dedicated to the sustainable health of
our people, our planet and our Company. For more information, visit
www.kraftheinzcompany.com.
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version on businesswire.com: http://www.businesswire.com/news/home/20161116006428/en/
The Kraft Heinz CompanyMichael Mullen
(media)Michael.Mullen@kraftheinzcompany.comorChristopher Jakubik,
CFA (investors)ir@kraftheinzcompany.com
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