WASHINGTON (dpa-AFX) - Juniper Networks Inc. (JNPR) Friday said it has been notified of an unsolicited mini-tender offer from TRC Capital Corp. to purchase up to 3.0 million shares of Juniper Networks at a price of $28.25 per share in cash.
Juniper Networks recommends its shareholders not to tender their shares in response to the offer, as the price is nearly 4.33 percent less than the $29.53 closing price on June 22, the day before the offer commenced.
Mini-tender offers are designed to seek to acquire less than five percent of a company's outstanding shares, thereby avoiding many disclosure and procedural requirements of the SEC that apply to offers for more than five percent of a company's outstanding shares.
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