TRC Capital's mini-tender offer irritates a flustered Biogen
TRC Capital’s trademark mini-tender offer strategy has peeved an anemic Biogen, which is still licking its wounds following the catastrophic failure of its Alzheimer’s drug aducanumab.
On Monday, Biogen said it had learned that TRC has sought to purchase up to 500,000 shares of Biogen’s stock at a price of $216.25 per share in cash, which is a discount of 4.41% to the closing price of the drugmaker’s shares on May 10 — the last business day prior to the commencement of the offer.
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