(Reuters) – Johnson & Johnson said on Thursday it has recommended its shareholders to reject an unsolicited “mini-tender” offer by TRC Capital Investment Corporation for about 0.04% of its common stock.
The drugmaker said Ontario-based TRC Capital has offered to purchase up to 1 million shares of J&J’s stock at a price of $151.23 per share in cash. (This story has been corrected to fix the syntax in paragraph 1)
(Reporting by Christy Santhosh in Bengaluru; Editing by Krishna Chandra Eluri)
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