PITTSBURGH & CHICAGO--(BUSINESS WIRE)--
The Kraft Heinz Company (NASDAQ: KHC) ("Kraft Heinz") has been notified
of an unsolicited "mini-tender" offer by TRC Capital Corporation ("TRC")
to purchase up to 1.5 million shares of Kraft Heinz common stock,
representing approximately 0.12 percent of Kraft Heinz's shares of
common stock outstanding. TRC's offer price of $77.75 per share is
approximately 4.26 percent below the closing price per share of Kraft
Heinz's common stock on Nov. 11, 2016, the last trading day before the
commencement of the offer.
Kraft Heinz does not endorse TRC's unsolicited mini-tender offer and is
not associated with TRC, its mini-tender offer, or the mini-tender offer
documents. Because TRC's offer price is at a price below the current
market price, Kraft Heinz recommends that stockholders not tender their
shares (i.e., take no action) or, if they have already tendered shares,
withdraw their shares by providing the written notice described in the
TRC mini-tender offer documents prior to the expiration of the offer,
currently scheduled for 12:01 a.m., New York City time, on Wednesday,
December 14, 2016.
The SEC has cautioned investors that "some bidders make mini-tender
offers at below-market prices, hoping that they will catch investors off
guard if the investors do not compare the offer price to the current
market price." TRC has made many similar unsolicited mini-tender offers
for shares of other public companies.
Stockholders should obtain current market quotations for their shares,
consult with their broker or financial advisor, and exercise caution
with respect to TRC's mini-tender offer. Kraft Heinz encourages brokers
and dealers, as well as other market participants, to review the SEC's
letter regarding broker-dealer mini-tender offer dissemination and
disclosure at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Kraft Heinz requests that a copy of this press release be included with
all distributions of materials relating to TRC's mini-tender offer
related to shares of Kraft Heinz's common stock.
ABOUT THE KRAFT HEINZ COMPANY
The Kraft Heinz Company (NASDAQ: KHC) is the fifth-largest food and
beverage company in the world. A globally trusted producer of delicious
foods, The Kraft Heinz Company provides high quality, great taste and
nutrition for all eating occasions whether at home, in restaurants or on
the go. The Company's iconic brands include Kraft, Heinz, ABC,
Capri Sun, Classico, Jell-O, Kool-Aid, Lunchables,
Maxwell House, Ore-Ida, Oscar Mayer, Philadelphia,
Planters, Plasmon, Quero, Weight Watchers Smart
Ones and Velveeta. The Kraft Heinz Company is dedicated to
the sustainable health of our people, our planet and our Company. For
more information, visit www.kraftheinzcompany.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161116006428/en/
The Kraft Heinz Company
Michael Mullen (media)
Michael.Mullen@kraftheinzcompany.com
or
Christopher
Jakubik, CFA (investors)
ir@kraftheinzcompany.com
Source: The Kraft Heinz Company
News Provided by Acquire Media