Manulife cautions investors regarding New York Stock and Bond LLC offer for shares
Manulife (TSX/NYSE/PSE: MFC) has issued a warning to investors regarding an unsolicited mini-tender offer from New York Stock and Bond (NYSB). The offer seeks to purchase up to 250,000 Manulife common shares (less than 0.02% of outstanding shares) at USD$18.50 per share.
The offer price represents a significant discount of approximately 35% below the closing prices on both TSX and NYSE as of March 13, 2025, and over 41% below the April 1, 2025 closing prices. Manulife emphasizes it is not associated with NYSB and does not endorse this offer.
Mini-tender offers, which target less than 5% of a company's shares, bypass typical securities regulations disclosure requirements. Both the Canadian Securities Administrators and SEC have expressed concerns about such offers, noting they often target uninformed investors who may not compare offer prices to market values.
Manulife (TSX/NYSE/PSE: MFC) ha emesso un avviso agli investitori riguardo a un'offerta mini-tender non richiesta da parte di New York Stock and Bond (NYSB). L'offerta mira ad acquistare fino a 250.000 azioni comuni di Manulife (meno dello 0,02% delle azioni in circolazione) a USD$18,50 per azione.
Il prezzo offerto rappresenta uno sconto significativo di circa il 35% rispetto ai prezzi di chiusura sia del TSX che del NYSE al 13 marzo 2025, e oltre il 41% al di sotto dei prezzi di chiusura dell'1 aprile 2025. Manulife sottolinea di non essere associata a NYSB e di non avallare questa offerta.
Le offerte mini-tender, che mirano a meno del 5% delle azioni di una società, eludono i normali requisiti di divulgazione delle normative sui titoli. Sia gli Amministratori dei Titoli canadesi che la SEC hanno espresso preoccupazioni riguardo a tali offerte, notando che spesso mirano a investitori poco informati che potrebbero non confrontare i prezzi offerti con i valori di mercato.
Manulife (TSX/NYSE/PSE: MFC) ha emitido una advertencia a los inversores sobre una oferta mini-tender no solicitada de New York Stock and Bond (NYSB). La oferta busca comprar hasta 250.000 acciones comunes de Manulife (menos del 0,02% de las acciones en circulación) a USD$18,50 por acción.
El precio de la oferta representa un descuento significativo de aproximadamente el 35% por debajo de los precios de cierre tanto en TSX como en NYSE al 13 de marzo de 2025, y más del 41% por debajo de los precios de cierre del 1 de abril de 2025. Manulife enfatiza que no está asociada con NYSB y no respalda esta oferta.
Las ofertas mini-tender, que apuntan a menos del 5% de las acciones de una empresa, evitan los requisitos típicos de divulgación de las regulaciones de valores. Tanto los Administradores de Valores de Canadá como la SEC han expresado preocupaciones sobre tales ofertas, señalando que a menudo se dirigen a inversores desinformados que pueden no comparar los precios de la oferta con los valores de mercado.
Manulife (TSX/NYSE/PSE: MFC)는 뉴욕 주식 및 채권(NYSB)으로부터의 요청되지 않은 미니 텐더 오퍼에 대해 투자자들에게 경고를 발했습니다. 이 오퍼는 Manulife의 보통주 250,000주(발행 주식의 0.02% 미만)를 주당 18.50달러에 구매하려고 합니다.
제안 가격은 2025년 3월 13일 기준 TSX 및 NYSE의 종가보다 약 35% 낮은 상당한 할인율을 나타내며, 2025년 4월 1일 종가보다 41% 이상 낮습니다. Manulife는 NYSB와 관련이 없으며 이 제안을 지지하지 않는다고 강조합니다.
미니 텐더 오퍼는 회사의 주식 5% 미만을 목표로 하며, 일반적인 증권 규제 공시 요건을 우회합니다. 캐나다 증권 관리자와 SEC는 이러한 오퍼에 대해 우려를 표명하며, 종종 시장 가치와 제안 가격을 비교하지 않는 정보에 부족한 투자자를 타겟으로 한다고 지적했습니다.
Manulife (TSX/NYSE/PSE: MFC) a émis un avertissement aux investisseurs concernant une offre mini-tender non sollicitée de New York Stock and Bond (NYSB). L'offre vise à acheter jusqu'à 250 000 actions ordinaires de Manulife (moins de 0,02 % des actions en circulation) à 18,50 USD par action.
Le prix de l'offre représente une réduction significative d'environ 35 % par rapport aux prix de clôture sur le TSX et le NYSE au 13 mars 2025, et plus de 41 % en dessous des prix de clôture du 1er avril 2025. Manulife souligne qu'elle n'est pas associée à NYSB et ne soutient pas cette offre.
Les offres mini-tender, qui ciblent moins de 5 % des actions d'une entreprise, contournent les exigences typiques de divulgation des réglementations sur les valeurs mobilières. Les Administrateurs canadiens des valeurs mobilières et la SEC ont exprimé des préoccupations concernant de telles offres, notant qu'elles visent souvent des investisseurs mal informés qui peuvent ne pas comparer les prix proposés aux valeurs du marché.
Manulife (TSX/NYSE/PSE: MFC) hat eine Warnung an die Investoren bezüglich eines unaufgeforderten Mini-Tender-Angebots von New York Stock and Bond (NYSB) herausgegeben. Das Angebot zielt darauf ab, bis zu 250.000 Stammaktien von Manulife (weniger als 0,02% der ausstehenden Aktien) zu einem Preis von 18,50 USD pro Aktie zu kaufen.
Der Angebotspreis stellt einen erheblichen Rabatt von etwa 35% unter den Schlusskursen an sowohl der TSX als auch der NYSE vom 13. März 2025 dar und liegt über 41% unter den Schlusskursen vom 1. April 2025. Manulife betont, dass sie nicht mit NYSB verbunden ist und dieses Angebot nicht unterstützt.
Mini-Tender-Angebote, die weniger als 5% der Aktien eines Unternehmens anvisieren, umgehen die typischen Offenlegungspflichten der Wertpapierregulierungen. Sowohl die kanadischen Wertpapieraufsichtsbehörden als auch die SEC haben Bedenken hinsichtlich solcher Angebote geäußert und darauf hingewiesen, dass sie oft uninformierte Investoren ansprechen, die die Angebotspreise möglicherweise nicht mit den Marktwerten vergleichen.
- Company's proactive approach in warning shareholders about potentially disadvantageous offer
- Unsolicited mini-tender offer targeting company shares at significant discount to market value
- Potential risk of shareholders accepting unfavorable offer terms without proper market comparison
Insights
Manulife's warning about New York Stock and Bond 's mini-tender offer represents a significant investor protection alert. This offer to purchase up to 250,000 common shares (less than
Mini-tender offers exploit a regulatory loophole by targeting less than
Manulife's proactive notification demonstrates proper corporate governance and shareholder protection. While this offer poses minimal risk to Manulife's overall share structure or control given the small percentage targeted, individual shareholders who unknowingly accept would suffer immediate financial losses. Regulatory bodies including the SEC and CSA have repeatedly warned investors about these predatory practices, highlighting their deceptive nature and potential harm to retail investors.
C$ unless otherwise stated TSX/NYSE/PSE: MFC SEHK: 945
Manulife is in no way associated with NYSB and does not recommend or endorse acceptance of this unsolicited offer.
Manulife cautions shareholders that the mini-tender offer has been made at a price below the current market price for Manulife shares. The offer represents a discount of approximately
Mini-tender offers are designed to seek less than
The SEC states that "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."
Shareholders should carefully review the NYSB offer documents and current market price for Manulife shares, and consult their investment advisors regarding any offer they may receive and review with their advisors all options for their investment in Manulife shares.
Manulife has stock transfer agents providing shareholder services in
Manulife requests that a copy of this news release be included in any distribution of materials relating to NYSB's mini-tender offer for Manulife common shares.
About Manulife
Manulife Financial Corporation is a leading international financial services provider, helping our customers make their decisions easier and lives better. With our global headquarters in
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Media Relations
Fiona McLean
Manulife
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Investor Relations
Hung Ko
Manulife
416-806-9921
hung_ko@manulife.com
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SOURCE Manulife Financial Corporation
FAQ
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