MINNEAPOLIS — Target Corporation is advising shareholders to exercise caution after receiving notice of an unsolicited mini-tender offer from TRC Capital Corporation. The offer seeks to purchase up to 1.5 million shares of Target’s common stock at $89.00 per share in cash, representing about 0.33% of Target’s outstanding shares.
Target emphasized that it is not affiliated with TRC Capital, does not endorse the offer, and has no involvement with the company or its documentation. The retailer said it expresses no opinion on the offer but advises investors to compare TRC Capital’s offer price with current market quotations, consult their brokers or financial advisors, and carefully review the offer’s terms before making any decisions.
The offer is set to expire one minute after 11:59 p.m. Eastern Time on October 6, 2025.
Mini-tender offers, like TRC Capital’s, typically target less than 5% of a company’s outstanding shares. Because of that threshold, they avoid many of the disclosure and procedural requirements of U.S. securities laws. The U.S. Securities and Exchange Commission (SEC) has previously warned investors that some mini-tender offers are made below market prices in the hope of catching shareholders off guard. The SEC has also published guidance and tips for investors, available at sec.gov.
Target requested that this release be included with all distributions of materials relating to TRC Capital’s mini-tender offer.
