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DALLAS - AT&T Inc. (NYSE:T) has alerted its shareholders to an unsolicited mini-tender offer by TRC Capital Investment Corporation, seeking to acquire up to 4 million shares of AT&T’s common stock at $26.38 each. The offer, significantly below the current market price, is set to expire on June 3, 2025, unless TRC decides to extend it.
The telecommunications giant has advised shareholders to reject the offer, emphasizing that it is not affiliated with TRC and expressing concern that the offer price undervalues the shares. AT&T has also warned that TRC might postpone payment and extend the offer past the initial expiration date.
Mini-tender offers target less than 5% of a company’s shares, a strategy that circumvents many of the SEC’s disclosure and procedural rules for larger tender offers. The SEC has issued warnings about such offers, noting that they can catch investors off guard and may result in sales at below-market prices.
AT&T encourages shareholders to consult with their financial advisors, get current market quotes, and exercise caution. For those who have already tendered shares, AT&T has provided information on how to withdraw them in accordance with the terms described in TRC’s offering documents.
This announcement is based on a press release statement from AT&T and aims to inform shareholders of the details surrounding TRC’s mini-tender offer.
In other recent news, Ryanair Holdings PLC has published its Annual Report for the fiscal year ending March 31, 2025. The report, filed with the U.S. Securities and Exchange Commission, outlines the company’s performance and financial results, although specific figures are not disclosed in the announcement. Investors are encouraged to review the full document for detailed insights into Ryanair’s financial health. Meanwhile, AT&T Inc. has reiterated its full-year 2025 financial and operational guidance, signaling confidence in its strategic growth plan. The company expects capital investments between $4.5 billion and $5 billion for the second quarter, with a free cash flow projection of approximately $4 billion. Analyst John Hodulik from UBS has maintained a Buy rating on AT&T, with a price target of $30, citing strong EBITDA growth and a robust fiber network expansion. Bernstein analysts also maintained an Outperform rating for AT&T, with a $29 price target, highlighting the company’s positive subscriber growth and increased service bundling. Additionally, Evercore ISI raised AT&T’s price target to $27, reflecting strong quarterly results and sustained broadband growth.
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