DEERFIELD (dpa-AFX) - Baxter International Inc. (BAX) Wednesday said it has been notified of an unsolicited 'mini-tender' offer by TRC Capital Corp. to purchase up to 2 million shares, or about 0.35 percent, of Baxter's outstanding common stock at $46.10 per share in cash.
Baxter said it does not endorse the offer and recommended its shareholders to not to tender shares.
The offer price was 4.67 percent below the $48.36 closing price of Baxter's common stock on December 15, 2011, the day prior to the offer.
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