{"id":381077,"date":"2020-11-13T16:04:04","date_gmt":"2020-11-13T21:04:04","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=381077"},"modified":"2020-11-13T16:04:04","modified_gmt":"2020-11-13T21:04:04","slug":"vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/","title":{"rendered":"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation"},"content":{"rendered":"<p>        <!--body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p>\nVertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation\n<\/p>\n<p>BOSTON&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.vrtx.com%2F&amp;esheet=52327405&amp;newsitemid=20201113005658&amp;lan=en-US&amp;anchor=Vertex+Pharmaceuticals+Incorporated&amp;index=1&amp;md5=de63bb2b79a0879fa48c84aff9116ff0\">Vertex Pharmaceuticals Incorporated<\/a> (Nasdaq:VRTX) today announced that it has been notified of an unsolicited \u201cmini-tender\u201d offer dated November 9, 2020, made by TRC Capital Investment Corporation, an Ontario, Canada, corporation to purchase up to 1,000,000 shares of Vertex common stock. TRC Capital\u2019s unsolicited \u201cmini-tender\u201d offer price of $210.00 per share is approximately 4.67% below the $220.28 per share closing price of Vertex\u2019s common stock on November 6, 2020, the last trading day prior to the commencement of the offer.\n<\/p>\n<p>\nVertex does not endorse TRC Capital\u2019s offer and recommends that Vertex shareholders reject the offer and not tender their shares in response to TRC Capital\u2019s unsolicited offer. The \u201cmini-tender\u201d offer is at a price below the market price of shares of Vertex\u2019s common stock (as of today\u2019s date) and is subject to numerous conditions, including TRC Capital\u2019s ability to obtain financing necessary to consummate the offer. Vertex is not affiliated in any way with TRC Capital, the offer, or the offer documentation.\n<\/p>\n<p>\nTRC Capital has made many similar \u201cmini-tender\u201d offers for the shares of other companies. \u201cMini-tender\u201d offers are designed to seek less than five percent of a company\u2019s outstanding shares, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission (SEC) because they are below the SEC\u2019s threshold to provide such disclosure and procedural protections for investors.\n<\/p>\n<p>\nThe SEC has cautioned investors about \u201cmini-tender\u201d offers in an investor alert. The SEC noted that these offers \u201chave been increasingly used to catch investors off guard\u201d and that many investors who hear about \u201cmini-tender\u201d offers \u201csurrender their securities without investigating the offer, assuming that the price offered includes the premium usually present in larger, traditional tender offers.\u201d\n<\/p>\n<p>\nTo read more about the risks of \u201cmini-tender\u201d offers, please review the alert on the SEC\u2019s website at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov%2Finvestor%2Fpubs%2Fminitend.htm&amp;esheet=52327405&amp;newsitemid=20201113005658&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.sec.gov%2Finvestor%2Fpubs%2Fminitend.htm&amp;index=2&amp;md5=29cb1fd7d97520ec94f2eb6cd68024d0\">http:\/\/www.sec.gov\/investor\/pubs\/minitend.htm<\/a>.\n<\/p>\n<p>\nLike TRC Capital\u2019s other offers, this \u201cmini-tender\u201d puts individual investors at risk because they may sell their shares at a discount without so realizing. Vertex urges shareholders to obtain current stock quotes for their shares of Vertex common stock, review the terms and conditions to the offer, consult with their broker or financial adviser and exercise caution with respect to TRC Capital\u2019s \u201cmini-tender\u201d offer. Shareholders who have already tendered should consider the advisability of withdrawing their shares as permitted under TRC Capital\u2019s Offer to Purchase documents.\n<\/p>\n<p>\nShareholders who have already tendered their shares may withdraw them at any time prior to the expiration of the offer, and if TRC Capital has not accepted a shareholder\u2019s shares for payment pursuant to the offer, that shareholder may withdraw them at any time after December 21, 2020, until TRC Capital accepts the shareholder\u2019s shares for payment, in accordance with TRC Capital\u2019s offering documents.. According to the offer documents, the offer is currently scheduled to expire at 12:01 a.m., New York City time, on December 9, 2020.\n<\/p>\n<p>\nVertex encourages broker-dealers, as well as other market participants, to review the SEC\u2019s letter regarding broker-dealer \u201cmini-tender\u201d offer dissemination and disclosure at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.sec.gov%2Fdivisions%2Fmarketreg%2Fminitenders%2Fsia072401.htm&amp;esheet=52327405&amp;newsitemid=20201113005658&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.sec.gov%2Fdivisions%2Fmarketreg%2Fminitenders%2Fsia072401.htm&amp;index=3&amp;md5=297644554489f38a516f225f8db03c23\">https:\/\/www.sec.gov\/divisions\/marketreg\/minitenders\/sia072401.htm<\/a> and the NASD Notice to Members regarding guidance to members forwarding \u201cmini-tender\u201d offers to their customers, which can be found at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Fwww.finra.org%2Fsites%2Fdefault%2Ffiles%2FNoticeDocument%2Fp004221.pdf&amp;esheet=52327405&amp;newsitemid=20201113005658&amp;lan=en-US&amp;anchor=https%3A%2F%2Fwww.finra.org%2Fsites%2Fdefault%2Ffiles%2FNoticeDocument%2Fp004221.pdf&amp;index=4&amp;md5=7b47dc9c3bd1a51bca149a6789cbd05e\">https:\/\/www.finra.org\/sites\/default\/files\/NoticeDocument\/p004221.pdf<\/a>.\n<\/p>\n<p>\nVertex requests that a copy of this news release be included with all distributions of materials relating to TRC Capital\u2019s \u201cmini-tender\u201d offer related to shares of Vertex\u2019s common stock.\n<\/p>\n<p><b>About Vertex<\/b><\/p>\n<p>\nVertex is a global biotechnology company that invests in scientific innovation to create transformative medicines for people with serious diseases. The company has multiple approved medicines that treat the underlying cause of cystic fibrosis (CF) \u2014 a rare, life-threatening genetic disease \u2014 and has several ongoing clinical and research programs in CF. Beyond CF, Vertex has a robust pipeline of investigational small molecule medicines in other serious diseases where it has deep insight into causal human biology, including pain, alpha-1 antitrypsin deficiency and APOL1-mediated kidney diseases. In addition, Vertex has a rapidly expanding pipeline of genetic and cell therapies for diseases such as sickle cell disease, beta thalassemia, Duchenne muscular dystrophy and type 1 diabetes mellitus.\n<\/p>\n<p>\nFounded in 1989 in Cambridge, Mass., Vertex&#8217;s global headquarters is now located in Boston&#8217;s Innovation District and its international headquarters is in London. Additionally, the company has research and development sites and commercial offices in North America,\u202fEurope,\u202fAustralia\u202fand\u202fLatin America. Vertex is consistently recognized as one of the industry&#8217;s top places to work, including 11 consecutive years on Science magazine&#8217;s Top Employers list and a best place to work for LGBTQ equality by the Human Rights Campaign. For company updates and to learn more about Vertex&#8217;s history of innovation, visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.vrtx.com&amp;esheet=52327405&amp;newsitemid=20201113005658&amp;lan=en-US&amp;anchor=www.vrtx.com&amp;index=5&amp;md5=7000be581451c796d7f2a8cc0c2a0803\">www.vrtx.com<\/a> or follow us on Facebook, Twitter, LinkedIn, YouTube and Instagram.\n<\/p>\n<p>\n(VRTX-GEN)\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201113005658r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201113005658\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201113005658\/en\/<\/a><\/span><\/p>\n<p><b>Vertex Pharmaceuticals Incorporated<br \/>\n<\/b><br \/><b>Investors:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:InvestorInfo@vrtx.com\">InvestorInfo@vrtx.com<br \/>\n<\/a><br \/>or<br \/>\n<br \/>617-961-7163\n<\/p>\n<p><b>Media:<br \/>\n<\/b><br \/><a rel=\"nofollow\" href=\"mailto:mediainfo@vrtx.com\">mediainfo@vrtx.com<br \/>\n<\/a><br \/>or<br \/>\n<br \/>U.S.: 617-341-6992<br \/>\n<br \/>or<br \/>\n<br \/>International: +44 20 3204 5275\n<\/p>\n<p><b>KEYWORDS:<\/b> Massachusetts United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Health Diabetes Genetics Pharmaceutical Cardiology Biotechnology<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20201113005658\/en\/88260\/3\/vrtxsmall.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation BOSTON&#8211;(BUSINESS WIRE)&#8211;Vertex Pharmaceuticals Incorporated (Nasdaq:VRTX) today announced that it has been notified of an unsolicited \u201cmini-tender\u201d offer dated November 9, 2020, made by TRC Capital Investment Corporation, an Ontario, Canada, corporation to purchase up to 1,000,000 shares of Vertex common stock. TRC Capital\u2019s unsolicited \u201cmini-tender\u201d offer price of $210.00 per share is approximately 4.67% below the $220.28 per share closing price of Vertex\u2019s common stock on November 6, 2020, the last trading day prior to the commencement of the offer. Vertex does not endorse TRC Capital\u2019s offer and recommends that Vertex shareholders reject the offer and not tender their shares in response to TRC Capital\u2019s unsolicited offer. The \u201cmini-tender\u201d &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-381077","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation BOSTON&#8211;(BUSINESS WIRE)&#8211;Vertex Pharmaceuticals Incorporated (Nasdaq:VRTX) today announced that it has been notified of an unsolicited \u201cmini-tender\u201d offer dated November 9, 2020, made by TRC Capital Investment Corporation, an Ontario, Canada, corporation to purchase up to 1,000,000 shares of Vertex common stock. TRC Capital\u2019s unsolicited \u201cmini-tender\u201d offer price of $210.00 per share is approximately 4.67% below the $220.28 per share closing price of Vertex\u2019s common stock on November 6, 2020, the last trading day prior to the commencement of the offer. Vertex does not endorse TRC Capital\u2019s offer and recommends that Vertex shareholders reject the offer and not tender their shares in response to TRC Capital\u2019s unsolicited offer. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/","og_locale":"en_US","og_type":"article","og_title":"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation - Market Newsdesk","og_description":"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation BOSTON&#8211;(BUSINESS WIRE)&#8211;Vertex Pharmaceuticals Incorporated (Nasdaq:VRTX) today announced that it has been notified of an unsolicited \u201cmini-tender\u201d offer dated November 9, 2020, made by TRC Capital Investment Corporation, an Ontario, Canada, corporation to purchase up to 1,000,000 shares of Vertex common stock. TRC Capital\u2019s unsolicited \u201cmini-tender\u201d offer price of $210.00 per share is approximately 4.67% below the $220.28 per share closing price of Vertex\u2019s common stock on November 6, 2020, the last trading day prior to the commencement of the offer. Vertex does not endorse TRC Capital\u2019s offer and recommends that Vertex shareholders reject the offer and not tender their shares in response to TRC Capital\u2019s unsolicited offer. The \u201cmini-tender\u201d &hellip; Continue reading \"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-13T21:04:04+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201113005658r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation","datePublished":"2020-11-13T21:04:04+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/"},"wordCount":873,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201113005658r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/vertex-recommends-rejection-of-mini-tender-offer-from-trc-capital-investment-corporation\/","name":"Vertex Recommends Rejection of \u2018Mini-Tender\u2019 Offer From TRC Capital Investment Corporation - 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