Veralto shareholders reject mini-tender offer by TRC Capital

Veralto “has become aware of an unsolicited “mini-tender offer” made by TRC Capital Investment Corporation to Veralto shareholders to purchase up to 2,000,000 shares of Veralto common stock at a price of $65.40 per share. TRC’s offer price represents a discount of $2.96 per share, or 4.33 percent, below Veralto’s closing price of $68.36 on October 30, 2023, the last trading day prior to the announcement of TRC’s offer. The closing price of Veralto’s common stock on November 28, 2023 was $73.32 per share. Veralto recommends that shareholders reject TRC’s unsolicited offer because, among other reasons, the offer price is below Veralto’s current share price. The offer is also subject to numerous conditions. Veralto also recommends that any shareholders who have tendered shares to TRC withdraw those shares by providing the written notice described in the offering documentation before the expiration of the offer, which is currently scheduled for 12:01 a.m., New York City Time, on November 30, 2023, subject to extension at TRC’s discretion.”