Restaurant Brands recommends shareholders reject NYSB’s “mini-tender offer”

Restaurant Brands (QSR) has been notified of an unsolicited mini-tender offer made by New York Stock and Bond, or NYSB, to purchase up to 100,000 RBI common shares, or approximately 0.03% of the company’s outstanding common shares, at a price of $44.00 per share. RBI cautions shareholders that the mini-tender offer has been made at a price below market price for RBI shares. The offer represents a discount of 29.96% on the NYSE closing price for RBI common shares on April 21. RBI does not endorse this unsolicited offer, has no association with NYSB or its offer, and recommends that shareholders do not tender their shares to the offer. NYSB has made similar unsolicited mini-tender offers for shares of other public companies. The SEC and the CSA have expressed serious concerns about mini-tender offers, including the possibility that investors might tender to such offers without understanding the offer price relative to the actual market price of their securities.