Occidental Petroleum Corporation has alerted its shareholders to an unsolicited mini-tender offer by TRC Capital Investment Corporation to purchase up to 2 million shares of Occidental common stock at a price of $51.51 per share. This price is below the current market value and represents a 4.45% discount to the closing price on October 14, 2024. Occidental has advised its shareholders against tendering their shares, citing the offer's below-market price and numerous conditions, including a stipulation that the stock price not fall below $51.22 per share. The company has emphasized that mini-tender offers, such as TRC's, are not subject to the same SEC disclosure and procedural requirements as larger tender offers, and therefore may not provide the same level of investor...Show More

Occidental Petroleum Corporation has alerted its shareholders to an unsolicited mini-tender offer by TRC Capital Investment Corporation to purchase up to 2 million shares of Occidental common stock at a price of $51.51 per share. This price is below the current market value and represents a 4.45% discount to the closing price on October 14, 2024. Occidental has advised its shareholders against tendering their shares, citing the offer's below-market price and numerous conditions, including a stipulation that the stock price not fall below $51.22 per share. The company has emphasized that mini-tender offers, such as TRC's, are not subject to the same SEC disclosure and procedural requirements as larger tender offers, and therefore may not provide the same level of investor protection. Occidental has recommended that shareholders who have not yet responded to the offer should take no action and those who have already tendered shares have the option to withdraw them at any time before the offer's expiration on November 12, 2024. The company has also encouraged brokers and dealers to share this information with all involved parties.