Westcoast Energy said it was notified last week that TRC CapitalCorp. (TRC) made an unsolicited “mini-tender offer” for up to fourmillion of Westcoast’s outstanding common shares at a per shareprice of C$23.50. A ‘mini-tender offer’ is an offer to purchase alimited number of shares of a company’s securities at below currentmarket prices.

Westcoast informed its shareholders the offer was not encouragedin any way and that the Canadian utility is not associated with itor with TRC. Westcoast said it does not approve of this practice ofmini-tenders which targets less-informed investors, and in no wayrecommends or endorses the tender offer.

According to TRC’s May 15 offer, Westcoast shareholders who havealready tendered their shares may withdraw them before 5 p.m. (EDT)on June 9. Westcoast’s stock closed Friday at C$24.15 on theToronto stock exchange. The company has about 115 million sharesoutstanding.

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