Company Website:
http://stock.walmart.com
BENTONVILLE, Ark. -- (Business Wire)
Wal-Mart Stores, Inc. (NYSE: WMT) has learned that TRC Capital
Corporation (TRC) has made an unsolicited “mini-tender” offer dated Jan.
20, 2016. TRC has offered to purchase up to 2 million shares of
Walmart’s common stock at $59.88 per share. The offering price is
approximately 4.3 percent below the closing price per share of Walmart’s
common stock on Jan. 19, 2016, the last trading day before the
commencement of the offer. Walmart is in no way associated with TRC and
recommends that shareholders reject this unsolicited offer.
Mini-tender offers seek less than 5 percent of a company’s outstanding
shares. This allows the offering company to avoid many of the U.S.
Securities and Exchange Commission (SEC) disclosure and procedural
requirements for tender offers.
The SEC’s guidance to investors on mini-tender offers is available at www.sec.gov/investor/pubs/minitend.htm.
This alert advises that mini-tender offers “have been increasingly used
to catch investors off guard” and that investors “may end up selling
their securities at below-market prices.”
TRC has a history of mini-tender offers. Like its other offers, this one
puts individual investors at risk because they may not realize they’re
selling their shares at a discount. Walmart urges investors to get
current stock quotes for their shares of Walmart, consult their
financial advisors and exercise caution with respect to TRC’s offer.
Shareholders who may already have tendered their shares may withdraw
them by providing, prior to the expiration of the offer, the written
notice described in the TRC offering documents. The offer is set to
expire at 12:01 a.m. Eastern Standard Time on Thursday, Feb. 18, 2016,
but TRC may extend this offer at its discretion.
Walmart requests that a copy of this news release be included with all
distributions of materials related to TRC’s offer for shares of Walmart
common stock.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world save
money and live better - anytime and anywhere - in retail stores, online,
and through their mobile devices. Each week, nearly 260 million
customers and members visit our nearly 11,600 stores under 72 banners in
28 countries and e-commerce websites in 11 countries. With fiscal year
2015 revenue of $485.7 billion, Walmart employs approximately 2.2
million associates worldwide. Walmart continues to be a leader in
sustainability, corporate philanthropy and employment opportunity.
Additional information about Walmart can be found by visiting http://corporate.walmart.com
on Facebook at http://facebook.com/walmart
and on Twitter at http://twitter.com/walmart.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160126006559/en/
Contacts:
Wal-Mart Stores, Inc.
Media Relations:
Randy Hargrove,
800-331-0085
or
Investor Relations:
Pauline
Mohler, 479-277-0218
Source: Wal-Mart Stores, Inc.
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