(Source: CSX press release, March 23, 2022)
JACKSONVILLE, Fla. — CSX Corp. (“CSX”) announced today that it received notice of an unsolicited “mini-tender” offer by TRC Capital Investment Corporation (“TRC”) to purchase up to four million shares of CSX common stock at a price of $34.75 per share in cash. The offer price is 4.43% below the $36.34 closing price of CSX common stock on March 18, 2022 the last trading day before the mini-tender commenced.
CSX is not affiliated with TRC and does not endorse TRC’s unsolicited offer.
CSX recommends that CSX shareholders do not tender their shares in response to the offer because the offer is at a price below the current market price for CSX shares. The offer is also subject to a number of conditions, including TRC’s ability to secure sufficient financing to consummate the offer.
Full story: www.csx.com