Alexion deal

Alexion recommended shareholders reject an unsolicited mini-tender offer by investment firm TRC Capital Corp. to acquire up to 1.5 million shares, or about 0.77% of the company's common stock, for $90.50 per share. The price is a 5.06% discount to Alexion's close on Feb. 5, the day before the offer was made. Alexion said such offers are used to acquire less than 5% of a company, thus avoiding SEC disclosure requirements. The company said the SEC has cautioned investors about these offers, noting that "some bidders make mini-tender offers at below-market prices, hoping that they will catch investors off guard if the investors do not compare the offer price to the current market price." ...