Wal-Mart Receives "mini-tender" Offer From TRC Capital Corp.

Wal-Mart Stores Inc. is urging shareholders to reject an unsolicited "mini-tender" offer from TRC Capital Corp. dated Jan. 20, 2016 for 2 million shares of the company's common stock. The offer is for $59.88 per share, about 4.3% less than the closing price on Jan. 19. "Walmart is in no way associated with TRC and recommends that shareholders reject this unsolicited offer," the company said in a release. Wal-Mart shares are trading up 0.8% on Tuesday, at about $64. Shares are up 10.2% for the past three months compared with the an 8.4% decline for the S&P 500 for the same period.