Weatherford Recommends Rejection of “Mini-Tender” Offer by TRC Capital Corporation
Weatherford International plc has received notification of an unsolicited “mini-tender” offer by TRC Capital Corporation to purchase up to 5,000,000 shares, or approximately 0.65 percent, of the outstanding ordinary shares of Weatherford at $21.15 per share. TRC Capital’s offer is approximately 4.3% below Weatherford’s closing price of $22.10 on August 18, 2014, the day before the offer commenced. Weatherford does …