NORTH CHICAGO, Ill.,
June 12, 2020 /PRNewswire/
-- AbbVie (NYSE:ABBV) has been notified that TRC Capital
Investment Corporation (TRC Capital) has commenced an unsolicited
"mini-tender" offer, dated June 1,
2020, to purchase up to 1,500,000 shares of AbbVie common
stock at $88.05 per share. The offer
price is approximately 4.99 percent below the closing price of the
AbbVie common stock on May 29, 2020
($92.67), the last trading day before
the date of the offer. AbbVie is not associated in any way with TRC
Capital, its mini-tender offer, or the offer documentation.
AbbVie does not endorse TRC Capital's offer. This mini-tender
offer is at a price below the closing price for AbbVie's shares (as
of the day prior to the offer) and is subject to numerous
conditions. AbbVie recommends that shareholders obtain current
quotes for the shares, review terms and conditions, and consult
with their broker.
AbbVie shareholders who have already tendered may withdraw their
shares by providing the written notice described in the TRC Capital
offering documents prior to the expiration of the offer, which is
currently scheduled at 12:01 a.m.
New York City time on June 30, 2020.
AbbVie encourages brokers, dealers, and other investors to
review the SEC's letter regarding broker-dealer mini-tender offer
dissemination and disclosure, which can be found here:
https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
AbbVie requests that a copy of this news release be included
with all distribution of materials related to TRC Capital's offer
for shares of AbbVie common stock.
About AbbVie
AbbVie's mission is to discover and
deliver innovative medicines that solve serious health issues today
and address the medical challenges of tomorrow. We strive to have a
remarkable impact on people's lives across several key therapeutic
areas: immunology, oncology, neuroscience, eye care, virology,
women's health and gastroenterology, in addition to products and
services across its Allergan Aesthetics portfolio. For more
information about AbbVie, please visit us at www.abbvie.com. Follow
@abbvie on Twitter, Facebook, Instagram, YouTube and
LinkedIn.
Forward-Looking Statements
Some statements in this
news release are, or may be considered, forward-looking statements
for purposes of the Private Securities Litigation Reform Act of
1995. The words "believe," "expect," "anticipate," "project" and
similar expressions, among others, generally identify
forward-looking statements. AbbVie cautions that these
forward-looking statements are subject to risks and uncertainties
that may cause actual results to differ materially from those
indicated in the forward-looking statements. Such risks and
uncertainties include, but are not limited to, competition from
other products, challenges to intellectual property, difficulties
inherent in the research and development process, adverse
litigation or government action, and changes to laws and
regulations applicable to our industry. Additional information
about the economic, competitive, governmental, technological and
other factors that may affect AbbVie's operations is set forth in
Item 1A, "Risk Factors," of AbbVie's 2019 Annual Report on Form
10-K, which has been filed with the Securities and Exchange
Commission. AbbVie undertakes no obligation to release publicly any
revisions to forward-looking statements as a result of subsequent
events or developments, except as required by law.
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SOURCE AbbVie