AT&T recommends shareholders reject mini-tender offer from TRC Capital

AT&T has learned that TRC Capital has made an unsolicited “mini-tender” offer, dated May 5. TRC has offered to purchase up to 4 million shares of AT&T common stock at $26.38 per share. The offer expires on June 3, unless extended by TRC. AT&T is in no way associated with TRC and recommends that shareholders reject this unsolicited offer. AT&T cautions shareholders that the offer is being made at a price below the current trading price of AT&T common stock. AT&T also cautions shareholders that TRC can extend the offer and delay payment beyond the scheduled expiration date of June 3. The SEC has issued an alert on its website regarding mini-tender offers. Shareholders who already tendered their shares may withdraw them by providing the written notice described in the TRC offering documents before the expiration of the offer and at other times described in the offering.