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Church & Dwight recommends shareholders reject TRC Capital's mini-tender offer

Church & Dwight Co. Inc. urged its stockholders to reject an unsolicited mini-tender offer from Canadian investment firm TRC Capital Corp. to buy up to 2 million of the company's shares.

TRC Capital's offer of $44.05 per share is 4.49% below Church & Dwight's stock price on May 18, the last trading day before the firm commenced its offer.

Church & Dwight recommended the investors to not tender their shares because the offer valued the company at below its current market price.

TRC's offer is scheduled to expire June 20.

The U.S. Security and Exchange Commission warns that mini-tender offers "have been increasingly used to catch investors off guard," who may end up selling their securities at below-market prices, the company said.