Magna International Advises Against Mini-Tender Offer

Magna International (TSE:MG) has released an update.

Magna International warns shareholders against an unsolicited mini-tender offer from TRC Capital to purchase up to 2 million shares at a price under market value, advising them to reject the bid. The offer is not fully funded and is conditional, including a withdrawal condition if Magna’s share price drops below a certain threshold. The company recommends that shareholders consult their financial advisors and exercise caution.

For further insights into TSE:MG stock, check out TipRanks’ Stock Analysis page.