Prudential Financial Advises Shareholders to Reject Potemkin Mini-Tender Offer

MT Newswires Live

04/14

Prudential Financial (PRU) said late Monday it received notice of an unsolicited mini-tender offer by Potemkin to buy up to 100,000 shares of its common stock, advising shareholders not to tender their shares as the offer price is significantly below the current market value.

The offer represents about 0.03% of Prudential's outstanding common stock. Potemkin's offer price of $60.70 per share is about 37.36% below the $96.90 closing price of Prudential stock on April 10.

Prudential said it is not associated with Potemkin, its mini-tender offer, or the related documents.

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