Benzinga | Oct 1, 2021 03:23PM EDT

General Electric Recommends Shareholders To Reject Offer By TRC Capital Investment

* General Electric Company (NYSE:GE) received notice of an unsolicited "mini-tender" offer by TRC Capital Investment Corporation to purchase up to 1 million shares of GE common stock, representing ~0.09% of the shares outstanding, for $99/share in cash.

* TRC Capital's offer price is 4.62% less than the $103.80 closing price on September 24, 2021, the last trading day before the mini-tender offer commenced.

* The company said it does not endorse TRC Capital's unsolicited mini-tender offer and recommends that GE shareholders do not tender their shares in the proposal because the offer is below the current market price for GE's shares.

* Price Action: GE shares are trading higher by 3.16% at $106.29 on the last check Friday.