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Vertiv Asks Shareholders to Reject Tutanota's Mini-Tender Offer

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Vertiv (VRT) said Friday it is recommending that its shareholders do not tender their shares in Tutanota's "mini-tender" offer to buy up to 500,000 Vertiv shares at $410 per share.

The offer price is conditional on the closing price per share of Vertiv stock exceeding $410 a share on the last trading day before the offer expires, Vertiv said, adding that unless this condition is waived by Tutanota, Vertiv shareholders who tender their shares will get a below-market price.

Tutanota plans to extend the offer for successive periods of 45 to 180 days until the price of the shares is above the offer price, Vertiv said.

Price: $363.20, Change: $-12.97, Percent Change: -3.45%

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