This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

The Walt Disney Company Recommends Stockholders Reject Below-Market-Price “Mini-Tender Offer” By TRC Capital Corporation

The Walt Disney Company (NYSE: DIS) has been notified of an unsolicited "mini-tender offer" made by TRC Capital Corporation (TRC) to Disney shareowners to purchase up to 2,000,000 shares of Disney common stock at a price of $61.00 per share. TRC's offer is for approximately one tenth of one percent of our outstanding shares and the offer price is $3.00 per share, or approximately 4.7 percent, below Disney's closing price of $64.00 on October 8, 2013, the day before commencement of the offer.

Disney recommends that shareowners not tender their shares because the offer price is below Disney’s current share price, and urges them to consult with their financial advisor and exercise caution with respect to TRC's offer. Disney notes that the offer is subject to the satisfaction of a substantial number of conditions, including the absence of any decrease in the market price of Disney shares from the price on the date of the offer and the ability of TRC to finance the offer. If the market price of Disney shares falls or TRC cannot obtain financing, TRC is permitted to terminate the offer and not purchase any shares.

The Securities and Exchange Commission (SEC) has issued an investor alert regarding mini-tender offers, noting that in making the offers at below-market prices, "bidders are hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." The SEC's investor alert can be found on the SEC Web site at

According to the SEC, mini-tender offers are for not more than 5 percent of a company's stock and typically do not provide the same investor protections required of larger tender offers, including the filing of disclosure documents with the SEC and other procedural protections mandated by U.S. securities laws.

1 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,106.64 -25.22 -0.15%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,825.1440 -13.4990 -0.28%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs