- Starbucks advises against Tutanota LLC's unsolicited mini-tender offer.
- Offer price set at $88.00 per share, subject to multiple conditions.
- Shareholders have the option to withdraw tendered shares before offer expiry.
Starbucks Corporation (SBUX, Financial) has received an unsolicited mini-tender offer from Tutanota LLC, proposing to purchase up to 500,000 shares of Starbucks common stock at $88.00 per share. The offer represents approximately 0.04% of Starbucks' outstanding shares. A key condition of the offer is that the closing stock price of Starbucks must exceed the offer price of $88.00 on the last trading day before the offer expires.
Starbucks advises shareholders against accepting Tutanota’s offer, highlighting that it is subject to numerous conditions, including Tutanota obtaining necessary financing. There is no assurance that these conditions will be met. Shareholders who have already tendered their shares have the right to withdraw them by notifying in accordance with Tutanota’s offering documents before the offer's expiration on May 12, 2025, at 5:00 p.m. New York City time, unless extended or terminated earlier.
The company underscores that it is not affiliated with Tutanota and does not endorse the offer. Tutanota's approach avoids many SEC disclosure requirements, and such mini-tender offers generally do not provide the same level of investor protection as larger transactions.
Starbucks urges brokers and market participants to examine the SEC’s and FINRA’s guidance on mini-tender offers. For more detailed information, stakeholders can visit the SEC’s and FINRA’s official websites for investor protection resources.
