Alphabet Receives Another Mini-Tender Offer from Tutanota, Doesn't Endorse Offer
By Denny Jacob
Alphabet received an unsolicited mini-tender offer from Tutanota to purchase up to 350,000 shares of the company's Class C stock for $180 a share in cash.
The parent company of Google said in a securities filing that the offer represents less than 0.01% of the shares of its outstanding Capital C shares as of Sept. 3. It didn't endorse the mini-tender offer and expressed no opinions on any actions shareholders may want to take.
Alphabet's Class C shares currently trade around $163.26. The stock is up about 16% on the year.
Alphabet received a similar offer in July from the private investment company, which it also didn't endorse.
Mini tender offers seek to acquire less than 5% of a company's shares, letting the bidder skirt the sizable information disclosures required by the U.S. Securities and Exchange Commission on all other tender offers.
Write to Denny Jacob at denny.jacob@wsj.com
(END) Dow Jones Newswires
September 24, 2024 09:11 ET (13:11 GMT)
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