DUBLIN, Ohio, March 8, 2018 /PRNewswire/ -- Cardinal
Health, Inc. (NYSE: CAH) today announced that it has received
notice of an unsolicited "mini-tender" offer by TRC Capital
Corporation (TRC Capital) to purchase up to 2 million of Cardinal
Health's common shares, representing approximately 0.64 percent of
Cardinal Health's common shares outstanding. The offer price of
$65.85 per share is approximately
4.48 percent below the closing price of Cardinal Health's common
shares on March 2, 2018, the last
trading day before the commencement of TRC Capital's offer.
Cardinal Health does not endorse TRC Capital's unsolicited
mini-tender offer and is not associated in any way with TRC
Capital, its mini-tender offer or its mini-tender offer
documents.
Because TRC Capital's offer price is below the current market
price for Cardinal Health's common shares, Cardinal Health
recommends that shareholders do not tender their shares to TRC
Capital. Shareholders who have already tendered their shares may
withdraw them at any time prior to 12:01
a.m., New York City time,
on Wednesday, April 4, 2018, in
accordance with the offering documents.
TRC Capital's mini-tender offer seeks less than 5 percent of
Cardinal Health's outstanding common shares, thereby avoiding many
disclosure requirements and procedural protections of U.S.
securities laws. In a statement to investors, the Securities and
Exchange Commission (SEC) cautioned investors that some bidders
make mini-tender offers at below-market prices, saying it believes
that these bidders are, "hoping that they will catch investors
off-guard if the investors do not compare the offer price to the
current market price."
The SEC's guidance to investors on mini-tenders is available at
https://www.sec.gov/reportspubs/investor-publications/investorpubsminitendhtm.html.
TRC Capital has made many similar unsolicited mini-tender offers
for shares of other public companies. Cardinal Health encourages
brokers and dealers, as well as other market participants, to
review the SEC's letter regarding broker-dealer mini-tender offer
dissemination and disclosure at
https://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Shareholders should obtain current market quotations for their
shares, consult with their broker or financial advisor, and
exercise caution with respect to TRC Capital's mini-tender offer.
Cardinal Health requests that a copy of this news release be
included with all distributions of materials related to TRC
Capital's mini-tender offer related to Cardinal Health's common
shares.
About Cardinal Health
Cardinal Health, Inc. is a
global, integrated healthcare services and products company,
providing customized solutions for hospitals, healthcare systems,
pharmacies, ambulatory surgery centers, clinical laboratories and
physician offices worldwide. The company provides clinically proven
medical products, pharmaceuticals and cost-effective solutions that
enhance supply chain efficiency from hospital to home. Cardinal
Health connects patients, providers, payers, pharmacists and
manufacturers for integrated care coordination and better patient
management. To help combat prescription drug abuse, the company and
its education partners created Generation Rx, a national drug
education and awareness program. Backed by nearly 100 years of
experience, with approximately 50,000 employees in nearly 60
countries, Cardinal Health ranks #15 on the Fortune 500. For
more information, visit cardinalhealth.com, follow
@CardinalHealth on Twitter, @cardinalhealthwings on Facebook
and connect on LinkedIn at linkedin.com/
company/cardinal-health.
View original
content:http://www.prnewswire.com/news-releases/cardinal-health-recommends-shareholders-reject-the-below-market-mini-tender-offer-by-trc-capital-corporation-300611356.html
SOURCE Cardinal Health