Kroger (KR +0.6%) recommends that shareholders reject a "mini-tender" offer from TRC Capital for 4M shares at a price of $28.70. Kroger currently trades at $30.00.
The SEC has cautioned investors in the past that some bidders making mini-tender offers at below-market prices hope they will catch investors off guard.
TRC Capital is well-known for firing off unsolicited mini-tender offers for shares of other public companies.
Source: Press Release
Now read: Is Now The Time To Buy Kroger? »