![<!DOCTYPE html> <html> <head> <title>TD Bank Group responds to TRC Capital Investment's unsolicited mini-tender offer</title> </head> <body> <article> <header> TD Bank Group responds to TRC Capital Investment's unsolicited mini-tender offer 1 TD Bank logo in front of their headquarters for Montreal, Quebec. Also known as Toronto Dominon Canada Trust, it is one of the main Canadian banks](https://static.seekingalpha.com/cdn/s3/uploads/getty_images/1089555904/image_1089555904.jpg?io=getty-c-w750)
Image: BalkansCat/iStock Editorial via Getty Images
Investors in TD Bank Group (NYSE:TD) were jolted on Friday by the news of an unsolicited mini-tender offer from TRC Capital Investment. The offer entails TRC Capital Investment seeking to acquire up to 1.5 million common shares of TD at a price of C$78.38 per share in cash, representing a potential discount of 4.3% compared to the closing share price of C$81.90 on January 10, 2024.
Despite the allure of the offer, TD Bank Group has communicated its lack of endorsement for the unsolicited mini-tender offer by TRC Capital Investment.
For investors, this unsolicited overture could herald potential turbulence in the near future.