LONDON (Alliance News) - Oil major BP PLC on Friday urged holders of its American Depositary Shares to reject a mini-tender offer from TRC Capital Corp.
TRC has offered to buy up to 3 million BP ADS at USD39 each, which BP said is a 4.5% discount to their closing price on November 16, the day before the offer began.
BP said ADS holders should get a current market quotation for their stock, and said anyone who has accepted the tender should withdraw this before the December 19 deadline.
BP shares were 0.1% higher on Friday afternoon at 522.60 pence each.
BP (BP.)