Monster Beverage (MNST) on Friday asked shareholders to reject an unsolicited mini-tender offer to acquire 0.2% of its outstanding shares.
The company said it received notice that TRC Capital Investment was offering to purchase 2 million shares at $52.95 apiece.
The offer price is 5.1% less than the company's closing price of $55.77 on Monday, Monster Beverage said.
The company said it did not endorse the unsolicited mini-tender offer and recommended that its shareholders reject it.
Shares of Monster Beverage were up 1.7% in recent trading.
Price: 55.25, Change: +0.90, Percent Change: +1.67
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