Kroger target of "mini-tender" ploy

|About: Kroger Co. (KR)|By:, SA News Editor

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