APi Group (APG) said Friday that it has advised shareholders to decline an unsolicited mini-tender offer from TRC Capital Investment, which proposes to buy up to 3 million shares at $33.40 each.
APi emphasized it is unaffiliated with TRC Capital Investment and that the offer is below current market price.
The company also recommends shareholders to withdraw tendered shares.
Shares of APi were down 2.1% in recent trading Friday.
Price: 34.29, Change: -0.72, Percent Change: -2.06
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