Reported Earlier, BorgWarner Recommends Stockholders Reject The Below Market Mini-Tender Offer By TRC Capital Investment

Author: Benzinga Newsdesk | February 23, 2024 03:45am

BorgWarner Inc. (NYSE:BWA) ("the Company") today announced that it has received notice of an unsolicited mini-tender offer by TRC Capital Investment Corporation of Ontario, Canada, to purchase up to 4 million shares of BorgWarner common stock at a price of $28.80 per share in cash. TRC Capital Investment's offer price of $28.80 per share represents a 4.51% discount below BorgWarner Inc.'s closing price on February 20, 2024, the last trading day before the offer commenced (which represents a 5.94% discount below BorgWarner Inc.'s closing price today, February 22, 2024). The offer is for approximately 1.74% of the shares of common stock outstanding at December 31, 2023

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