Butterfield Cautions Shareholders Regarding New York Stock and Bond LLC Mini-Tender Offer for Shares
Butterfield cautions shareholders that the mini-tender offer has been made at a price below the current market price for Butterfield shares. The offer represents a discount of approximately 34% below the closing price on the NYSE on July 14, 2022. Butterfield does not recommend or endorse acceptance of this unsolicited mini-tender offer and is not associated in any way with New York Stock and Bond LLC, its mini-tender offer or the offer documentation.
Mini-tender offers are designed to seek not more than 5% of a company's outstanding shares, thereby avoiding disclosure and procedural requirements applicable to most bids under
The SEC has cautioned investors about these offers, noting 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.” The SEC's guidance to investors on mini-tenders is available at https://www.sec.gov/rules/interp/34-43069.htm.
Shareholders should carefully review the offer documentation, obtain current market quotations for their shares, consult with their broker or financial advisor, and exercise caution with respect to New York Stock and Bond LLC’s mini-tender offer. Butterfield requests that a copy of this news release be included with all distributions of materials related to New York Stock and Bond LLC’s mini-tender offer for Butterfield's ordinary shares.
About Butterfield:
Butterfield is a full-service bank and wealth manager headquartered in
BF-All
View source version on businesswire.com: https://www.businesswire.com/news/home/20220715005476/en/
Investor Relations Contact:
Noah Fields
Investor Relations
The Bank of N.T. Butterfield & Son Limited
Phone : (441) 299 3816
E-mail : [email protected]
Media Relations Contact:
Nicky Stevens
Group Strategic Marketing & Communications
The Bank of N.T. Butterfield & Son Limited
Phone: (441) 299 1624
Cellular: (441) 524 4106
E-mail: [email protected]
Source: The Bank of N.T. Butterfield & Son Limited