Royal Bank of Canada (RY) has received notice of an unsolicited mini-tender offer by TRC Capital Investment to purchase up to 500,000 RBC common shares, approximately 0.036% of the common shares outstanding as at January 13, at a below-market price of C$224.00 per share in cash. TRC Capital Investment’s unsolicited offer price of C$224.00 per share is approximately 4.5% lower than the C$234.56 closing share price of RBC common shares on January 13, the business day prior to the date of the offer. RBC does not endorse TRC Capital Investment’s unsolicited mini-tender offer, is not affiliated or associated in any way with TRC Capital Investment and recommends shareholders reject the offer.
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