Goodyear aware of mini-tender offer, warns shareholders to use caution

AKRON (June 25)—Goodyear is aware of an unsolicited "mini tender" offer by TRC Capital Corp. to purchase up to 5 million shares of its common stock, or approximately 3 percent of Goodyear´s total shares outstanding, for $19.50 per share, the Akron tire maker said June 25. While the firm expressed no opinion on the offer, it advised its shareholders to use "extreme caution" and consult with their financial advisers before considering the offer. Mini tender offers are not subject to many of the disclosure, filing and procedural protection requirements of the U.S. Securities and Exchange Commission, and are often structured to obtain shares at below-market prices, Goodyear said.