Received a strange letter in the mail today from TRC CAPITAL CORPORATION.
“TRC Capital Corporation is offering to purchase for cash up 1,500,000 shares of common stock of the CA, INC. at USD 88.50 net per share….”
The letter goes on rambling a bunch of legal and financial jargon that I am not interested in. I decided to google TRC Capital Corporation just to find out if they are affiliated to MasterCard in any way. Apparently TRC capital has been trying to get investors in other companies to give up their shares to them through “mini-tender” offers.
Some investors have been reported to give up their shares carelessly without even checking the market price. (Who would do that???)
MasterCard has since released a statement urging investors not to accept the offer. The offer of $88.50 is 4.5% less than the new high of $92.67 ......