05:03 PM EST, 12/16/2024 (MT Newswires) -- Fortive ( FTV ) disclosed late Monday an unsolicited "mini-tender offer" by TRC Capital Investment Corp. to purchase for cash up to 1.5 million shares, or about 0.44%, of the outstanding common stock of Fortive ( FTV ) at $75 apiece.

The company said the offer represents a 4.93% discount to its closing price as of Dec. 6, the last trading day before the offer.

"Fortive ( FTV ) recommends that shareholders reject TRC's unsolicited offer because, among other reasons, the offer price is below the current market price for shares of Fortive ( FTV ) common stock," the company said. "The offer also is subject to numerous conditions."