CIBC Urges Shareholders to Reject TRC Capital’s Below-Market Mini-Tender Offer

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CIBC is advising its shareholders to reject an unsolicited mini-tender offer from TRC Capital Investment Corporation to purchase shares at CAD $126.50 each, which is approximately 4.5% below the market price. The bank highlights that these mini-tender offers are designed to avoid standard regulatory disclosure requirements by staying under 5% ownership. CIBC encourages shareholders to compare the offer to current market prices and consider withdrawing shares before the March 19, 2026 deadline.

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