Kraft Foods Group has called on shareholders to turn down an “unsolicited” mini-tender offer from private-equity firm TRC Capital for a portion of the company’s stock.

The US firm said the Canadian investment fund is looking to purchase up to 2m shares of Kraft common stock for $44 per share. The stake is 0.34% of Kraft Foods Group’s outstanding share capital.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Kraft Food Group said TRC’s offer was 4.37% below the price of its stock on 13 December, the last full trading day prior to the offer.

Kraft said it “does not endorse” TRC’s unsolicited mini-tender offer and recommends that shareholders “do not tender their shares in response to it”.

This is the second approach on Kraft by TRC Capital. In 2007, the then Kraft Foods advised its shareholders to reject a mini-tender offer from the company for 3m shares.

Kraft Foods Group’s share price was up 0.43% at $46.43 at 12:45 ET.

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

Just Food Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Food Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now