Regeneron Pharmaceuticals (REGN
) says it's been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 1M shares, or approximately 1.06%, of the outstanding float at a price of $161.25 per share. REGN
] recommends that shareholders reject
the offer because it's only a "mini-tender," priced below the current market and subject to numerous conditions.