McCormick Urges Investors to Reject TPC Capital's Mini-Tender Offer

Rich Duprey, The Motley Fool
·2-min read
McCormick Urges Investors to Reject TPC Capital's Mini-Tender Offer

Although shares of McCormick (NYSE: MKC) are 23% higher in 2020, an investor is trying to acquire 750,000 of them at a discount by launching a mini-tender offer at a price 4% below where they currently traded. The spice maker has recommended shareholders reject the offer, and investors would be wise to follow the advice. McCormick said it received notice TPC Capital launched a mini-tender offer for its stock at $176.38 per share, or 4.4% below the closing price on Nov. 13.