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DTE gets offer for 3M shares from Canadian company.(News)(TE Energy Co.)
Crain's Detroit Business, January, 2004
TE Energy Co. said it has learned of an unsolicited "mini-tender'' offer by a Canadian company to purchase up to 3 million shares of DTE common stock. In a news release, DTE said it recommends shareholders reject the offer by Toronto-based TRC Capital Corp. TRC Capital has in the past made numerous mini-tender offers for other companies' shares.
DTE said TRC proposes to purchase about 1.78 percent of DTE common stock at $38.50 a share, about 2.6 percent below the closing price of DTE Energy stock on the New York Stock Exchange on the day before the offer. DTE said it learned on Jan. 14 of TRC's Dec. 30 offer. Frank's CEO resigns; turnaround firm hired Frank's Nursery & Crafts Inc. said CEO Bruce Dale has resigned and also said the company has hired a...
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