IFF Recommends Stockholders Reject Mini-Tender Offer by TRC Capital Investment Corporation
21.3.2023 23:15:00 EET | Business Wire | Press release
IFF (NYSE: IFF) has been notified that TRC Capital Investment Corporation has made an unsolicited “mini-tender offer” to purchase up to 1,500,000 shares of the Company’s common stock, and, per a press release issued by TRC on March 20, has amended the terms of such offer to decrease the offer price payable from $89.95 to $81.60 per share in cash. TRC Capital Investment Corporation’s offer price is approximately 1.4% lower than the $82.76 closing price of IFF’s common stock on March 17, 2023, the last trading day prior to the date of the amended offer.
IFF recommends that stockholders do not tender their shares in response to TRC's offer because the offer price is below the current market price of IFF’s shares and is subject to numerous conditions, including TRC Capital Corporation obtaining financing for the offer. There is no guarantee the conditions of the offer will be satisfied. IFF recommends that stockholders who have not responded to TRC Capital Investment Corporation’s offer take no action.
IFF stockholders who have already tendered their shares may withdraw them at any time by providing notice in the manner described in the TRC offering documents prior to the expiration of the offer, which is currently scheduled for 12:01 a.m. EDT on April 4, 2023, unless extended.
IFF does not endorse TRC’s unsolicited mini-tender offer. IFF is not affiliated or associated in any way with TRC, its mini-tender offer, or its mini-tender offer documents.
TRC's mini-tender offer is not subject to many of the disclosure and procedural requirements of Securities and Exchange Commission (SEC) rules that are designed to protect investors. TRC has made similar unsolicited mini-tender offers for stock of other public companies. The SEC has cautioned investors about mini-tender offers, providing guidance to investors at http://www.sec.gov/investor/pubs/minitend.htm. Mini-tender offers seek to acquire not more than 5 percent of a company’s outstanding shares, thereby avoiding many disclosure and procedural requirements of the SEC that are designed to protect investors.
IFF urges stockholders to obtain current market quotations for their shares of stock, to consult their broker or financial advisor, and to exercise caution with respect to TRC’s offer. IFF requests that a copy of this news release be included with all distributions of materials relating to TRC's mini-tender offer related to IFF’s stock.
Welcome to IFF
At IFF (NYSE: IFF), an industry leader in food, beverage, scent, health and biosciences, science and creativity meet to create essential solutions for a better world – from global icons to unexpected innovations and experiences. With the beauty of art and the precision of science, we are an international collective of thinkers who partners with customers to bring scents, tastes, experiences, ingredients and solutions for products the world craves. Together, we will do more good for people and planet. Learn more at iff.com, Twitter, Facebook, Instagram, and LinkedIn.
© 2023 by International Flavors & Fragrances Inc. IFF is a Registered Trademark. All Rights Reserved.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230321005937/en/
Contact information
Media Relations:
Paula Heinkel
332.877.5339
Media.request@iff.com
Investor Relations:
Michael Bender
212.708.7263
Investor.Relations@iff.com
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
KILL IQM Named Among Quantum Collaborators in HPE's New Hybrid Quantum-HPC Platform23.6.2026 01:17:00 EEST | Press release
IQM Quantum Computersrequests that their press release NewsItemId: 20260622035759 “IQM Named Among Quantum Collaborators in HPE's New Hybrid Quantum-HPC Platform” be killed. The release was issued in error by IQM Quantum Computers. A replacement release will be issued at a later date.
One Biosciences Receives BOOST Funding From Paris-Saclay Cancer Cluster to Advance the First Single-Cell Assay Approach for ADC Therapies22.6.2026 23:15:00 EEST | Press release
One Biosciences, a techbio company pioneering clinical-grade single-cell tumor profiling, today announced financial support via a Paris-Saclay Cancer Cluster (PSCC) BOOST grant to develop the first single-cell assay for antibody-drug conjugates (ADC) therapies in oncology. The rapid growth of ADCs is driving demand for more sophisticated biomarker strategies. By capturing tumor complexity at cellular resolution, single-cell profiling has the potential to enhance patient selection and support the development of next-generation ADCs. Ultimately, it will help match the right patients to the right therapies, maximizing therapeutic benefit. The PSCC BOOST-funded project seeks to bring a new level of precision to ADC development. It will be conducted in collaboration with Adcytherix, a clinical-stage biotech company developing differentiated ADCs for cancers with high unmet medical need. The collaboration will combine Adcytherix’s expertise in ADC development with One Biosciences’ AI-powered
Interactive Brokers Expands AI Integration Capabilities – Adding ChatGPT and Grok to Its Growing Suite of Agentic Trading Tools22.6.2026 17:00:00 EEST | Press release
Interactive Brokers (Nasdaq: IBKR), an automated global broker, today announced the expansion of its agentic trading capabilities with the addition of ChatGPT and Grok, further broadening a growing ecosystem of AI platform integrations that began with Claude. Available through certified AI connector marketplaces across multiple leading platforms, these integrations allow clients to research, analyze, and generate instructions with speed and efficiency to uncover new trading and investing opportunities instantly. With this release, Interactive Brokers also extends the selection of products available for order instructions to include support for options, futures and futures options in addition to equities and ETFs. “We continue to see growing interest from investors in using artificial intelligence as a more natural way to interact with financial markets,” said Milan Galik, Chief Executive Officer of Interactive Brokers. “Adding ChatGPT and Grok, together with support for options and fut
IQM Named Among Quantum Collaborators in HPE's New Hybrid Quantum-HPC Platform22.6.2026 16:22:00 EEST | Press release
Hewlett Packard Enterprise has named IQM Quantum Computers among the companies collaborating on its hybrid classical-quantum computing platform, announced at HPE Discover Las Vegas. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260622035759/en/ IQM Radiance quantum computer at HPE Discover Las Vegas 2026 IQM, a global leader in full-stack superconducting quantum computers, is contributing superconducting quantum processor technology to the effort, in which HPE is integrating multiple quantum modalities with its Cray supercomputing infrastructure. This collaboration strengthens IQM's global expansion plans as the company prepares for its planned Nasdaq listing through a merger with Real Asset Acquisition Corp. (Nasdaq: RAAQ). For IQM, HPE's selection places the company at the center of one of the computing industry's most significant efforts to bring quantum and high-performance computing together, an integration widely rega
Return Abuse Goes Mainstream as Nearly Half of Consumers Use AI in Return Claims, New Riskified Research Finds22.6.2026 15:30:00 EEST | Press release
Riskified (NYSE: RSKD), a global leader in ecommerce fraud detection and risk intelligence, today released a new global report, “Rewriting the Rules on Returns”, exploring how consumer attitudes and behaviors around ecommerce returns are evolving in the age of artificial intelligence (AI). The Riskified-commissioned study, conducted by eTail Insights, is based on a survey of 2,091 consumers across seven countries, alongside in-depth interviews with senior leaders from many of the largest retail companies in the world. The research finds that return abuse behaviors are increasingly normalized, while nearly half of consumers already use generative AI tools to assist with return or refund claims. At the same time, merchants are responding by tightening return policies, shortening return windows, and deploying advanced AI detection to better distinguish between legitimate behavior and abuse patterns. Key Findings Nearly half of consumers (50%) report using generative AI tools such as ChatG
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom