06:48 AM EDT, 09/16/2024 (MT Newswires) -- Estee Lauder ( EL ) issued a statement Monday, urging shareholders to reject TRC Capital Investment's unsolicited mini-tender offer to purchase up to 1.5 million Estee Lauder ( EL ) class A common shares at $83.65 per share in cash.

The company said the targeted number of shares represents about 0.64% of its outstanding class A stock. According to Estee Lauder ( EL ), TRC Capital's offer is below the current market price of its class A common stock and is subject to several conditions.

Price: 84.65, Change: +0.09, Percent Change: +0.11