RE:Just a questionEither way, it is well played. TRC can/did grab a load of shares below the mini-tender offer. Of course, it is only possible if shareholders are willing to give away their shares, which appears to be the case!
Interesting that TRC tried the same thing March 10, 2017. They offered to purchase 2 million shares for $56. However the share price didn't sell off as it did this time.
Date | Open | High | Low | Close | Adj Close | Volume |
2017-03-09 | 58 | 58.43 | 57.87 | 58.4 | 37.73598 | 1637900 |
2017-03-10 | 58.45 | 58.68 | 58.32 | 58.59 | 37.85876 | 1446500 |
2017-03-13 | 57.85 | 57.89 | 57.52 | 57.77 | 37.79203 | 1749500 |
2017-03-14 | 57.6 | 57.68 | 57.24 | 57.24 | 37.44531 | 1570100 |
2017-03-15 | 57.36 | 57.72 | 57.25 | 57.57 | 37.66119 | 1232600 |
2017-03-16 | 57.63 | 57.83 | 57.54 | 57.57 | 37.66119 | 1282100 |
2017-03-17 | 57.65 | 58.48 | 57.63 | 58.3 | 38.13874 | 8410300 |
2017-03-20 | 58.3 | 58.67 | 57.37 | 57.56 | 37.65464 | 2279800 |
2017-03-21 | 57.74 | 58.08 | 57.64 | 58 | 37.94247 | 1605900 |
2017-03-22 | 58.1 | 58.79 | 58.03 | 58.75 | 38.43312 | 3071000 |
2017-03-23 | 58.66 | 58.99 | 58.5 | 58.89 | 38.5247 | 1210800 |
Markets are much more spooked today than they were then. This too shall pass.