PayPal & TRC

PayPal says it received notice of an unsolicited “mini-tender” offer by TRC Capital Corporation (TRC) to purchase up to 3 million shares of PayPal’s common stock at a price of $32.80 per share in cash. The offering price is 4.6 percent below the closing price per share of PayPal’s common stock on September 9, 2015, the last trading day before the offer was commenced. The offer is for approximately 0.25 percent of the outstanding shares of PayPal’s common stock.