Viacom recommends shareholders reject below-market 'mini-tender' offer by TRC Capital
- Co has been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 2.5 mln shares of Viacom Class B common stock at a price of $38.88/share
- The offer price is ~4.7% below the closing price of Viacom's Class B shares on December 22, 2015, the day before commencement of the offer, and ~5.6% below today's closing price of $41.18.
- The offer is for ~0.72% of the outstanding Class B shares of Viacom common stock as of November 4, 2015.