IRVINE, Calif., June 3, 2019 /PRNewswire/ -- Edwards
Lifesciences Corporation (NYSE: EW), the global leader in
patient-focused innovations for structural heart disease and
critical care monitoring, today announced that it has received
notice of an unsolicited "mini-tender offer" by TRC Capital
Corporation to purchase up to 1,000,000 shares, or approximately
0.48 percent of the company's outstanding shares of common stock as
of the date of the offer. Edwards does not endorse this unsolicited
offer and recommends that the company's stockholders reject the
offer, either by doing nothing in response or by withdrawing their
shares from the offer, if they have responded.
Edwards is not affiliated or associated in any way with TRC
Capital, its mini-tender offer or the offer documentation. The
Securities and Exchange Commission (SEC) has cautioned investors
about these offers.
TRC Capital's offer price is fixed at $162.38, which is lower than the current price of
Edwards' shares as of today's close. Accordingly, Edwards urges
stockholders to obtain current market quotations for their shares,
review the conditions to the offer or consult with their broker or
financial adviser before any decision regarding the offer is
considered by our stockholders.
Any stockholders who have responded to the offer and already
tendered shares to TRC Capital should consider withdrawing their
shares in the manner described in the TRC Capital offering
documents. Shares must be withdrawn prior to expiration of
the offer at 12:01 a.m. Eastern time
on June 25, 2019.
TRC has made many similar mini-tender offers for shares of other
companies. The SEC's caution on these offers states 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" and that many
investors who hear about mini-tender offers "surrender their
securities without investigating the offer, assuming that the price
offered includes the premium usually present in larger, traditional
tender offers." Mini-tender offers also do not provide investors
with the same level of protections as provided by larger tender
offers under the United States
securities laws. The SEC's Investor Tips regarding
mini-tender offers may be found on the SEC's website at
www.sec.gov/investor/pubs/minitend.htm.
Edwards encourages brokers and dealers, as well as other market
participants, to review the SEC's letter regarding broker-dealer
mini-tender offer dissemination and disclosures at
www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Edwards requests that a copy of this press release be included
with all distributions of materials relating to TRC's
offer.
About Edwards Lifesciences
Edwards Lifesciences, based in Irvine, Calif., is the
global leader in patient-focused medical innovations for structural
heart disease, as well as critical care and surgical
monitoring. Driven by a passion to help patients, the company
collaborates with the world's leading clinicians and researchers to
address unmet healthcare needs, working to improve patient outcomes
and enhance lives. For more information,
visit www.edwards.com and follow us on Twitter
@EdwardsLifesci.
Edwards, Edwards Lifesciences and the stylized E logo are
trademarks of Edwards Lifesciences Corporation. All other
trademarks are the property of their respective owners. This
statement is made on behalf of Edwards Lifesciences Corporation
and/or its subsidiaries.
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SOURCE Edwards Lifesciences Corporation