Houston-based Occidental Petroleum Corp. (Oxy) is recommending stockholders not respond to a mini-tender offer by TRC Capital Corp., which is seeking to purchase two million shares, or about 0.26% (as of Oct. 20) of the exploration and production company's outstanding shares. By attempting to obtain less than 5% of outstanding shares, TRC’s mini-tender offer would bypass scrutiny by the Securities and Exchange Commission. TRC has made mini-tender offers for other energy firms in the past that include ConocoPhillips and Encana Corp.
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