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TheMarker
Teva Pharmaceuticals (TASE, Nasdaq: TEVA) on Friday advised investors to reject an unsolicited so-called "mini-tender" offer by TRC Capital Corporation to purchase up to 2.5 million Teva ordinary shares, in the form of ADRs.
The offer less than 0.4% of Teva's outstanding shares.
TRC Capital was offering $37.80 per share, representing a 3.8% discount to the $39.31 per share closing price on Nasdaq of Teva's share price on April 19, 2006, Teva said The discount amounted to more than 7.6% below the Thursday price on Nasdaq, $40.92 per share.
Teva said it has no involvement with TRC or with the offer.
