EOG Resources Urges Stockholders To Reject TRC Capital Mini-tender Offer

(RTTNews) - Oil and gas firm EOG Resources, Inc. (EOG) Monday said it has been notified of an unsolicited mini-tender offer by TRC Capital Corp. and recommended that its stockholders reject the offer, which is at a price below the current market price.

EOG received a copy of the offering documents, dated November 15, following which TRC offered to purchase for cash up to 1 million shares, or about 0.37 percent, of EOG's outstanding common stock.

The offer price of $162.75 per share is more than 4 percent below the $169.67 closing price of EOG's common stock on November 14, the day prior to commencement of the offer.

EOG said it does not endorse TRC's offer and recommended that stockholders reject the offer and not tender their shares.

TRC's offer is at a price below the current market price of EOG's common stock and is subject to numerous conditions.

EOG also recommends that stockholders who have already tendered shares in the offer withdraw their shares by providing written notice as described in TRC's offering documents prior to the expiration of the offer scheduled for December 17.

According to EOG, TRC has made other similar mini-tender offers in the past for shares of other companies.

EOG urged investors to obtain current market quotations for their shares, consult with their broker or financial advisor and exercise caution with respect to the offer.

The firm said it is not associated in any way with TRC, any of its affiliates, the mini-tender offer or the offering documents.

EOG closed down 0.6 percent on Monday at $169.19.