Lowe's Recommends Shareholders To Reject Mini-tender Offer From TRC Capital

(RTTNews) - Lowe's Companies Inc. (LOW) said that it has been notified of an unsolicited "mini-tender" offer dated February 10, 2016, made by TRC Capital Corp., a private Canadian investment company, to purchase up to 2 million shares of Lowe's common stock, less than one fourth of one percent of the outstanding shares. Lowe's recommends that shareholders reject this unsolicited offer.

TRC Capital's unsolicited "mini-tender" offer price of $61.25 per share is approximately 4.5 percent below the $64.15 per share closing price of Lowe's common stock on February 9, 2016, the last trading day prior to the commencement of the offer. Lowe's is not affiliated in any way with TRC Capital, the offer or the offer documentation.

TRC Capital has made many similar "mini-tender" offers for the shares of other companies. "Mini-tender" offers seek to purchase less than five percent of a company's outstanding shares, thereby avoiding many disclosure and procedural rules of the United States Securities and Exchange Commission because the offers are below the SEC's threshold for requiring such disclosure and procedural protections for investors.