Akamai Recommends Shareholders Reject Mini-Tender Offer by TRC Capital Corporation
12/12/2017
Cambridge, MA | December 12, 2017
Akamai Technologies, Inc. (NASDAQ: AKAM) today announced that it received notice of an unsolicited mini-tender offer by TRC Capital Corporation (TRC) to purchase up to 2,000,000 shares of Akamai's common stock at a price of 54.00 per share in cash. The offering price is 4.42% below the closing price per share of Akamai's common stock on December 8, 2017. The offer is for approximately 1.18 percent of the outstanding shares of Akamai common stock.
Akamai does not endorse TRC Capital's unsolicited mini-tender offer and recommends that shareholders not tender their shares because the offer is at a price below the current market price of Akamai's shares. Akamai is not affiliated or associated in any way with TRC Capital, its mini-tender offer or the mini-tender offer documents.
TRC Capital has made many similar unsolicited mini-tender offers for shares of other public companies. Mini-tender offers seek to acquire not more than 5 percent of a company's shares outstanding, thereby avoiding many disclosure and procedural requirements of the U.S. Securities and Exchange Commission (SEC) that apply to offers for more than 5 percent of a company's shares outstanding. As a result, investors are not provided with the same level of protections in mini-tender offers as are provided for larger tender offers under the U.S. securities laws.
The SEC has cautioned investors that some bidders making mini-tender offers at below-market prices are, hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price. The SEC's guidance to investors on mini-tender offers is available at http://www.sec.gov/investor/pubs/minitend.htm.
Shareholders should obtain current market quotations for their shares, consult with their broker or financial advisor, and exercise caution with respect to TRC Capital's mini-tender offer. Akamai recommends that shareholders who have not responded to TRC Capital's offer take no action. Shareholders who have already tendered their shares may withdraw them at any time prior to 12:01 a.m. ET, on January 11, 2018, in accordance with TRC's offering documents. TRC Capital may extend the offering period at its discretion.
Akamai encourages brokers and dealers, as well as other market participants, to review the SEC's letter regarding broker-dealer mini-tender offer dissemination and disclosure at http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Akamai requests that a copy of this press release be included with all distributions of materials relating to TRC Capital's mini-tender offer related to Akamai shares of common stock.
About Akamai As the world's largest and most trusted cloud delivery platform, Akamai makes it easier for its customers to provide the best and most secure digital experiences on any device, anytime, anywhere. Akamai's massively distributed platform is unparalleled in scale with over 200,000 servers across 130 countries, giving customers superior performance and threat protection. Akamai's portfolio of web and mobile performance, cloud security, enterprise access, and video delivery solutions are supported by exceptional customer service and 24/7 monitoring. To learn why the top financial institutions, e-commerce leaders, media & entertainment providers, and government organizations trust Akamai please visit www.akamai.com, blogs.akamai.com, or @Akamai on Twitter.
LINK: | https://www.akamai.com/uk/en/about/news/press/2017-press/akamai-recomm... |
See more stories from akami |
Europe Stories
04/08/2024
Dalet Appoints Santiago Solanas as CEO to Lead Next Era of Growth and Innovation
Dalet, a leading technology and service provider for media-rich organizations, is excited to announce Santiago Solanas as its new Chief Executive Officer (CEO)....
03/06/2024
Dalet and Veritone Reach Agreement to Distribute, Transact and Monetize Media Archives
Dalet, a leading technology and service provider for media-rich organizations, a...
03/05/2024
Sudan: New WhatsApp Course Equips Journalists to Report on Conflict Related Sexual Violence
An innovative learning tool to help media and civil society better understand ho...
03/05/2024
Be Honest With Your Art': Danny Ocean Reflects on Sudden Stardom and His Deeply Personal New Album
If you aren't familiar with Danny Ocean's music, it's only a matter ...
03/05/2024
Spotify and ELLE Collaborate in Celebration of Emerging Women in Music
Spotify has an unwavering commitment to supporting emerging artists across all genres, to helping them launch and thrive in their careers, and to connecting the...
03/05/2024
La Msica Mexicana no es solamente un fenmeno en Mxico y Estados Unidos, tambin en toda Amrica Latina
Como uno de los sonidos de mayor expansi n en el mundo, la M sica Mexicana va m ...
03/05/2024
Msica Mexicana Isn't Just a Phenomenon in Mexico and the U.S.-It's Taking Over Latin America.
As one of the fastest-growing sounds worldwide, M sica Mexicana is more than jus...
03/05/2024
Limecraft updates content delivery platform
Enhancements to its Delivery Workspace solution provide increased content delivery robustness and security By Matthew Corrigan Published: May 3, 2024 Enha...
03/05/2024
Sony and Apollo submit $26 billion bid for Paramount Global
According to reports, if the bid is successful, Sony would be the significant majority shareholder of the new private company By Jenny Priestley Published: M...
03/05/2024
Global Academy launches Manchester media school
Located in Manchesters Spinningfields district, the course aims to equip students with the skills, knowledge and industry insight for a career in the creative s...
03/05/2024
Rohde & Schwarz presents cutting edge solutions at DSA 2024
Rohde & Schwarz presents cutting edge solutions at DSA 2024 Rohde & Schwarz demonstrates products and solutions for secure and robust communications and high-...
03/05/2024
Creativity and color tools. Toronto. 30 May 2024
Join Alter Ego and FilmLight for an exclusive afternoon focusing on creativity and color tools - followed by drinks at The Ruby Soho Bar. Thursday 30th May, fr...
03/05/2024
2024-05-02
CUPERTINO, CALIFORNIA Apple today announced financial results for its fiscal 2024 second quarter ended March 30, 2024. The Company posted quarterly revenue of $...
02/05/2024
Meet the 10 Hampton University Students Receiving Spotify NextGen's Scholarship
Spotify is committed to amplifying the voices of underrepresented groups, and th...
02/05/2024
Advertisers and Creators Come Together at Our First-Ever Spotify Sparks in London
With more than 600 million users around the world tuned in to Spotify, there'...
02/05/2024
The Making of All of Us Strangers
I always like to base my lighting choices in reality, says cinematographer Jamie D. Ramsay, SASC. For his recent collaboration with writer-director Andrew Haig...
02/05/2024
Hiltron Introduces Field-Upgradable Motorisation Kit for CPI 2385 Satcom Antenna
Accompanying image shows Hiltron's new HMAM-based field-upgradable motorisation kit for the CPI 2385 satellite communications antenna. Backnang, Germany,...
02/05/2024
Can AI find a way to reduce the broadcast industry's energy consumption?
OpenDrives Trevor Morgan asks if AI has the answer to making data centres for the media and entertainment industry more sustainable By Contributor Published:...
02/05/2024
Former BT Sport COO Jamie Hindhaugh joins EMG / Gravity Media
Charlie Cubbon has also been appointed chief operating officer By Matthew Corrigan Published: May 2, 2024 Charlie Cubbon has also been appointed chief ope...
02/05/2024
Rohde & Schwarz presents its test solutions at CCW 2024 that enable a successful migration to mission-critical broadband
Rohde & Schwarz presents its test solutions at CCW 2024 that enable a successful...
02/05/2024
Baselight training. Paris. Les Lapins Bleus. 27-31 May 2024
Baselight accredited training partner, Les Lapins Bleus, is conducting a five day Baselight training course in Paris in May. Location: Paris Dates: 27-31 May ...
02/05/2024
ARRI announces the ALEXA 35 Live - Multicam System
ARRI announces the ALEXA 35 Live - Multicam System posted: 02/05/2024 Arri Alexa 35 Live - Multicam System ARRI announces the ALEXA 35 Live - Multicam Sy...
01/05/2024
Celebrate May the 4th With Special Star Wars' Playlists, Audiobooks, and More
Spotify's Star Wars celebrations are in full Force starting today, and this ...
01/05/2024
Spotify's New Hardcore Gardening Playlist and Brain Dead Collab Will Rattle Greenhouses Everywhere
All around the world, millions of Spotify fans love listening to hardcore punk m...
01/05/2024
NXTGENbps powers Molinare's Notorious DIT
NXTGENbps battery solutions are designed to replace diesel generators and offer silent, emission-free power for various applications in film, TV, outside broadc...
01/05/2024
NXTGENbps powers Molinaire's Notorious DIT
NXTGENbps battery solutions are designed to replace diesel generators and offer silent, emission-free power for various applications in film, TV, outside broadc...
01/05/2024
Amazon CEO: AWS has multi-billion dollar revenue run rate in AI already
Sales rose to $25bn during the first three months of 2024, up 17 per cent year-on-year By Matthew Corrigan Published: May 1, 2024 Updated: May 2, 2024 S...
01/05/2024
stre Gasvrk Theatre enjoys Game-Changing' Quantum 7T addition to TheatreMax
Having the Theatre software for our Quantum 7T has really helped, he says. It gives us a great overview of the cues in the show, and quickly being able to cha...
01/05/2024
RT lyric fm turns 25!
RT lyric fm turns 25! Music station Where Life Sounds Better celebrates birthday with a gala concert RT lyric fm celebrates 25 years today Wednesday, ...
01/05/2024
MPTS. London. May 15-16, 2024
Wednesday, 15 May 11:35 The Gallows Pole - Creating a Workflow to Support the Creative Vision FilmLight sits down with the award-winning Residence Pictures t...
01/05/2024
Launching with Rave Reviews, Fourier Audio's transform.engine is Now Available
LONDON, UK - April 2024 - At last October's AES Convention in New York City,...
01/05/2024
2024-05-01
Elena Galluzzo, 22, divides her time between Waterloo, Ontario, where she's finishing her undergraduate degree at Wilfrid Laurier University, and her family...
01/05/2024
The Dawn Chorus 2024: Sunday 5th May from midnight to 07:00
The Dawn Chorus 2024 Sunday 5th May from midnight to 07:00 on RT Radio 1 and RT Lyric FM & BBC Radio Wales Love nature, love the Dawn Chorus! Listen to th...
30/04/2024
lodie Ichter Joins Light Iron as Senior Colorist
LOS ANGELES (April 30, 2024) Light Iron, the post-production creative-services division of Panavision, is excited to announce that lodie Ichter has joined th...
30/04/2024
Breadth of Support
Now streaming on Netflix, Good Grief marks the feature-film directorial debut of Daniel Levy, well known as the co-creator and costar of the series Schitt's...
30/04/2024
PBS Masterpiece Sets Third TV Adaptation Of The Forsyte Saga'
The Forsyte Saga, John Galsworthy's sweeping portrait of a wealthy British family in 1880s London, is getting its third TV adaptation in less than 60 years....
30/04/2024
Clear-Coms Eclipse HX and Agent-IC Technology Illuminate Coverage of Solar Eclipse
eds3_5_jq(document).ready(function($) { $(#eds_sliderM519).chameleonSlider_2_1({...
30/04/2024
Hotspring unveils Slapshot ML-driven rotoscoping solution
Hotspring said the breakthrough had been achieved through the acceleration of machine learning technology By Matthew Corrigan Published: April 30, 2024 Ho...
30/04/2024
SES to acquire Intelsat in $3.1 billion deal
Speaking about the deal, Adel Al-Saleh, CEO of SES, said: it will bring value-added, efficient, and reliable offerings for both companies media customers By Je...
30/04/2024
Bob Bakish officially out at Paramount, new Office of the CEO finalising long-term plan'
Paramount said the Office of the CEO is working with its board to develop a comp...
30/04/2024
PCC 3.9 now available
PCC 3.9 software is now available, incorporating new features and improvements including: The speed of all mp4 file conversions has been improved, averaging 5X...
30/04/2024
Highlights from NAB 2024: Safeguarding content value and authenticity - and an NAB Product of the Year Award!
We were excited to be back at NAB, and connect with our customers, partners and ...
30/04/2024
Kevin Steen appointed as President and CEO of Combined Eutelsat America Corp. and OneWeb Technologies
Photo Credit Eutelsat Group Press release - 30 April 2024 20:59 Kevin Steen ...
30/04/2024
RT All Ireland Drama Festival Schools Playwright Competition 2024 Winner Announced
Congratulations to Amelia O'Donnell from Loreto College, St Stephen's Gr...
30/04/2024
Solid momentum into the year for Telenor
6 minute read Share alt=Alternative descriptive text class=lazyload main main-lazyloaded responsive-image data-v-1a5ebb10> Telenor showed good momentum...
30/04/2024
WDR Filmhaus to Implement Riedel Infrastructure
Wuppertal April 30, 2024 WDR Filmhaus to Implement Riedel Infrastructure Award-Winning MediorNet HorizoN Hybrid Processing Platform Serves as Bridge to IP Ri...
30/04/2024
Female Leadership in the Age of AI: United Kingdom
Dr. Nicola Hodson, Chief Executive, IBM UK & Ireland introduces the UK findings of an IBM study on female leadership in the age of AI Advances in Artificial In...
30/04/2024
Accel-KKR Credit Partners Provides Growth Financing to Dalet
Accel-KKR Credit Partners today announced that it has provided debt financing to support Dalet in its next chapter of innovation and growth. Accel-KKR Credit Pa...
30/04/2024
RT NEWS ANNOUNCES DAVID MURPHY AS NEW ECONOMICS & PUBLIC AFFAIRS CORRESPONDENT
RT News is pleased to announce the appointment of David Murphy as its new Economics & Public Affairs Correspondent. David is currently RT 's Political Cove...
30/04/2024
RT Concert Orchestra May and June 2024
Concerts in Limerick, Dublin, Carlow and Cork, including Marty in the Evening, Morricone and May the Fourth Be With You, celebrating the remarkable decade of th...