ATLANTA--(BUSINESS WIRE)--The Coca-Cola Company has learned of an unsolicited mini-tender offer by TRC Capital Corp. for the purchase of up to 2.5 million shares of Coca-Cola common stock at $41.50 per share.
Coca-Cola does not endorse TRC Capital’s offer. The Company recommends that shareholders reject the offer and not tender their shares in response because the offer is at a price below the current market price for Coca-Cola shares and is subject to many conditions. TRC Capital’s offer price is approximately 4.51 percent below the closing share price of Coca-Cola common stock ($43.46) on March 16, 2018, the day before the offer commenced. The offer is for less than 0.06 percent of Coca-Cola’s outstanding shares.
TRC Capital’s offer states that it may terminate or amend the offer if, among other things, the market price of Coca-Cola’s stock declines or if TRC Capital fails to obtain financing necessary.
Coca-Cola is not associated with TRC Capital or its offer.
Coca-Cola encourages investors to consult with their broker or financial adviser and exercise caution with respect to TRC Capital’s offer. Coca-Cola shareholders who have already tendered their shares may withdraw by providing notice in the manner described in the TRC Capital offer documents prior to the expiration of the offer, which is currently scheduled at 12:01 a.m. New York City time on April 18, 2018.
TRC Capital has made similar mini-tender offers for shares of many other companies. The SEC, which has cautioned investors about these offers, offers tips for investors regarding mini-tender offers at http://www.sec.gov/investor/pubs/minitend.htm.
Coca-Cola requests that a copy of this release be included with all distributions of materials relating to TRC Capital’s mini-tender offer.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world’s largest total beverage company, offering over 500 brands to people in more than 200 countries. Of our 21 billion-dollar brands, 19 are available in lower- and no-sugar options to help people everywhere more easily control added sugar. In addition to our namesake Coca-Cola drinks, some of our household names around the world include: AdeS soy-based beverages, Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater, and Zico coconut water. At Coca-Cola, we’re serious about making positive contributions to our world. That starts with reducing sugar in our drinks and bringing new and different drinks to people everywhere. It also means continuously working to reduce our environmental impact, creating rewarding careers for our associates, and bringing economic opportunity wherever we operate. In fact, together with our bottling partners, we employ more than 700,000 people around the world. For more information, visit our digital magazine Coca-Cola Journey at www.coca-colacompany.com and follow The Coca-Cola Company on Twitter, Instagram, Facebook and LinkedIn.
The fairlife® brand is owned by fairlife, LLC, our joint venture with Select Milk Producers, Inc., and fairlife’s products are distributed by our Company and certain of our bottling partners.