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26.04.2016 22:29:21

NIKE Recommends Shareholders To Reject Mini-tender Offer Made By TRC Capital

(RTTNews) - NIKE, Inc. (NKE) announced that it has been notified of an unsolicited mini-tender offer, made by TRC Capital Corp., a private Canadian investment company, to purchase up to 2 million shares of NIKE Class B Common Stock, less than one sixth of one percent of the outstanding shares. NIKE recommended that shareholders reject the offer.

NIKE said TRC Capital's offer price of $57.00 per share is approximately 4.39% below the $59.62 per share closing price of the company's Class B Common Stock on April 20, 2016.

NIKE noted that the SEC has cautioned investors about "mini-tender" offers in an investor alert. NIKE said TRC Capital has made many similar "mini-tender" offers for the shares of other companies.

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