Ford Blasts TRC Capital's $94M Mini-Tender Offer

Law360, New York (March 8, 2012, 6:35 PM EST) -- Ford Motor Co. on Thursday condemned the lowball proposal of private investment firm TRC Capital Corp., which launched an unsolicited mini-tender offer of roughly $93.6 million for 8 million shares of the company.

Ford told its shareholders in a statement to reject the cash offer of $11.70 per share, or 4.49 percent below the closing price Feb. 28, the approximate date the offer was made, according to the company's statement. Ford's stock closed at $12.46 per share Thursday.

"Ford does not endorse TRC's mini-tender offer and...
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