Kraft Foods has advised shareholders to reject a mini-tender offer from a private Canadian investment company, TRC Capital Corporation.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


 


Toronto-based TRC is looking to purchase up to 3m shares in Kraft, representing about 0.2% of outstanding share capital. The investment group has offered US$31 per share.


 


In calling on investors to reject the offer, Kraft noted late yesterday (23 April) that TRC’s offer price was 6.3% below the food group’s closing price on the New York Stock Exchange on Friday, when Kraft closed at $33.09.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

 


In a statement to investors, Kraft warned: “Mini-tender offers, such as this one by TRC, do not give investors the same level of protection afforded by larger tender offers. For example, in making this offer, TRC is not required to disclosure and other offer documents with the Securities and Exchange Commission (SEC) or adhere to additional procedures mandated by US securities laws.”


 


Kraft shares closed up 12 cents at $33.21 following news of the tender offer yesterday.

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now