ExxonMobil Advises Shareholders To Reject Below-Market Mini-Tender Offer From TRC Capital

(RTTNews) - Exxon Mobil Corporation (XOM) has received notice of an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase up to 1 million shares of ExxonMobil common stock, approximately 0.023% of the company's outstanding shares as of June 9, 2025.

TRC's offer of $100 per share is 4.1% below ExxonMobil's closing price on June 6 and over 10% below the most recent closing price. ExxonMobil strongly recommends that shareholders do not tender their shares, citing the offer's unfavorable pricing, a conditional purchase price of $99.06, and various other conditions. The company clarified that it is not affiliated with TRC or its offer.

TRC has previously made similar mini-tender offers to other companies. These offers aim to acquire less than 5% of outstanding shares, allowing them to bypass the more rigorous disclosure and procedural requirements enforced by the U.S. Securities and Exchange Commission (SEC) for larger offers. Consequently, mini-tender offers provide fewer investor protections.

The SEC has warned that some mini-tender offers may be designed to catch investors off guard by offering below-market prices. ExxonMobil encourages shareholders to obtain updated market quotes, consult financial advisors, and exercise caution. Those who have already tendered shares may withdraw them before the offer expires at 11:59 p.m. (ET) on July 10, 2025. TRC may extend this period at its discretion.

ExxonMobil urges brokers, dealers, and market participants to review relevant SEC guidance on mini-tender offers and to include this press release in any materials related to TRC's offer.

Wednesday, XOM closed at $113.19, down 0.71%, and edged up in after-hours trading to $113.32, gaining 0.11% on the NYSE.