Celanese urges shareholders to reject ‘mini-tender’ offer by TRC Capital

Celanese (CE) announced that it received notice of an unsolicited “mini-tender” offer by TRC Capital Investment to purchase up to 1.5M shares of Celanese’s common stock at an offer price of $65.50 per share in cash, which is approximately 4.49% lower than the $68.58 per share closing price of Celanese’s common stock on December 13, 2024, the last trading day before the commencement of TRC Capital’s mini-tender offer. Celanese does not endorse TRC Capital’s unsolicited mini-tender offer and is not associated in any way with TRC Capital, its mini-tender offer, or its mini-tender offer documents. Celanese recommends that shareholders not tender their shares in response to TRC Capital’s offer, or, if shareholders have already tendered shares, that they withdraw their shares by providing the written notice described in the TRC Capital mini-tender offer documents prior to the expiration of the offer, currently scheduled for one minute after 11:59 p.m., New York City time, on Thursday, January 16, 2025. TRC Capital has included in the terms of its offer a condition that the closing price of Celanese’s shares must not decrease by more than 5% from the close of trading on December 13, 2024 and the offer is also subject to a number of other conditions. There is no guarantee the conditions of the offer will be satisfied.