06:28 AM EST, 11/04/2024 (MT Newswires) -- South Bow ( SOBO ) , the spinoff of TC Energy ( TRP ), over the weekend recommended its shareholders reject an unsolicited "mini-tender" offer from TRC Capital Investment to buy up to 3 million, or 1.4%, of South Bow ( SOBO ) common shares at a below-market price of $31.95.

The offer price is 4.6% below the closing price of the company's shares on the TSX and NYSE on Oct. 28. On Friday, the shares closed down 0.8% at $34.51 on the TSX. The shares were unchanged in pre-market trading on Monday in New York.