EOG Recommends Rejection of Unsolicited Tender Offer by TRC Capital
OREANDA-NEWS. EOG Resources, Inc. announced it has been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation (TRC Capital). EOG received a copy of the offering documents, dated November 15, 2013, pursuant to which TRC Capital has offered to purchase for cash up to 1,000,000 shares, or approximately 0.37 percent, of EOG's outstanding common stock. The offer price of USD 162.75 per share is more than 4 percent below the USD 169.67 closing price of EOG's common stock on November 14, 2013 , the day prior to commencement of the offer.
EOG does not endorse TRC Capital's offer and recommends that stockholders reject the offer and not tender their shares. TRC Capital's offer is at a price below the current market price of EOG's common stock and is subject to numerous conditions. EOG further recommends that stockholders who have already tendered shares in the offer withdraw their shares by providing written notice as described in TRC Capital's offering documents prior to the expiration of the offer, currently scheduled for 12:01 a.m., New York City time, Tuesday, December 17, 2013.
TRC Capital has made other similar mini-tender offers in the past for shares of other companies. EOG urges investors to obtain current market quotations for their shares of EOG common stock, consult with their broker or financial advisor and exercise caution with respect to TRC Capital's offer. EOG is not associated in any way with TRC Capital, any of its affiliates, the mini-tender offer or the offering documents.
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