Home Actualité internationale World News – United States – Target Corporation Announces Initial Bid Results and Increased Cash Tender Bids for Certain Outstanding Debt Securities
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World News – United States – Target Corporation Announces Initial Bid Results and Increased Cash Tender Bids for Certain Outstanding Debt Securities

/ PRNewswire / - Target Corporation ("Target") (NYSE: TGT) announced today that, in connection with its previously announced cash takeover bids (collectively,

MINNEAPOLIS, Oct.6, 2020 / PRNewswire / – Target Corporation (“Target”) (NYSE: TGT) today announced that in connection with its previously announced cash takeover bids (collectively, the “Offers”) for up to $ 1.75 billion aggregate purchase price (excluding accrued and unpaid interest to the date of settlement, but not including, and excluding fees and expenses related to the Offers) of the securities debt obligations identified in the table below (collectively, the “Securities” and each as a “series” of Securities) of each registered holder of securities (individually, a “Holder” and collectively, the “Holders”), approximately 1 $ 768 billion in combined total principal of securities were validly deposited and not validly withdrawn by 5:00 p.m. or before midnight New York time on October 6, 2020 (the “Early Submission Deadline”), in the aggregate amounts shown in the table below Target also announced today that it has modified relied on bids to increase the previously announced maximum bid amount from $ 1.75 billion to an amount sufficient to allow Target to accept for purchase all validly deposited and invalidly withdrawn securities before the early submission deadline ( excluding interest accrued and unpaid up to the date of settlement, but not included, and excluding fees and expenses relating to the Offers) (the “Amended Maximum Amount of the Offer”) Subject to Maximum Amended Bid Amount, Bids and Order of Priority (the “Acceptance Priority Levels”) shown in the table below are as described in the Offer to Purchase, dated September 23 2020, as amended or supplemented (the « Offer to Purchase ») Determination of the Total Consideration (as set out in the Offer to Purchase) will take place at 10:00 am New York time on October 7, 2020 The date early settlement is expected to take place on October 8, 2020

As described in the offer to purchase, securities validly deposited and not validly withdrawn on or before the early deposit deadline will be accepted for purchase in priority to other securities validly deposited after the deposit deadline advance, even if these titles were validly deposited after the early submission deadline has a higher acceptance priority level than the securities validly deposited on or before the early submission deadline Although the offers expire at 11:59 p.m. , New York Time, October 21, 2020, since the amended maximum bid amount will be equal to the aggregate purchase price required to accept all securities validly deposited and not validly withdrawn by the early submission deadline, Target does not plan to accept tenders for securities after the early submission deadline All securities deposited after the early deposit deadline will be promptly credited to the gate’s account. of such securities held with The Depository Trust Company and otherwise returned in accordance with the offer to purchase

The terms and conditions of the Offers are described in the Offer to Purchase and remain unchanged except as modified herein

Holders of securities validly deposited and not validly withdrawn on or before the early submission deadline will be eligible to receive the full consideration (as defined in the tender offer), which includes an early deposit premium of $ 30 per $ 1,000 principal amount of securities validly deposited and not validly withdrawn by such holders and accepted for purchase by Target All payments for securities purchased under the early deposit deadline will also include accrued interest and unpaid on the principal amount of the securities purchased from the last interest payment date applicable to the series of securities concerned up to, but not including, the early settlement date

Pursuant to the terms of the Offers, the withdrawal period was 5:00 p.m. New York time on October 6, 2020 Accordingly, Contributed Notes cannot be withdrawn except in certain limited circumstances where additional withdrawal rights are applicable. required by law (as determined by Target)

Target reserves the absolute right, subject to applicable law, to: (i) waive all conditions of the Offers; (ii) extend or terminate the offers; (iii) increase or decrease the maximum bid amount without extending the early submission deadline or the withdrawal deadline; or (iv) modify the offers in any way

Citigroup Global Markets Inc, Deutsche Bank Securities Inc and Goldman Sachs & Co LLC act as principal dealer managers for the offerings and Barclays Capital Inc, BofA Securities, Inc and you Bancorp Investments, Inc act as managers of Dealers (collectively, « Dealer Managers ») The information agent and tendering agent for tenders is Global Bondholder Services Corporation Copies of the Offer to Purchase and related documents Offer are available by contacting Global Bondholder Services Corporation by phone at (866) 924-2200 (toll free) or (212) 430–3774 (banks and brokers) or by email at [protected email] Questions regarding offers should be addressed to Citigroup Global Markets Inc, Liability Management Group, at (212) 723-6106 (collect) or (800) 558-3745 (toll free), Deutsche Bank Securities Inc, Liability Management Group, at ( 212) 250-2955 (collect) or (866) 627-0391 (toll free) or Goldman, Sachs & Co LLC, Liability Management Group, at (212) 902-6351 (collect) and (800) 828 -3182 (toll free)

This press release is for informational purposes only and does not constitute an offer to buy or the solicitation of an offer to sell any securities The solicitation of offers to sell securities is only made in accordance with the terms of the offer to purchase. The offer is not made in a jurisdiction in which the making or acceptance of it would not comply with the securities, blue sky or other laws of that jurisdiction. None of Target or its affiliates, their respective boards of directors, the Dealer Managers, the Information and Submission Agent or the applicable Trustee makes any recommendation as to whether or not Holders should deposit their securities in relationship with the offers, neither Target nor any other person has authorized anyone to make such a recommendation

Minneapolis-based Target Corporation (NYSE: TGT) serves customers in nearly 1,900 stores and at Targetcom Since 1946, Target has donated 5% of its profits to communities, which today equates to millions in dollars per week For the latest store count or for more information visit Targetcom / Newsroom For a behind-the-scenes look at Target, visit Targetcom / abullseyeview or follow @TargetNews on Twitter

Takeover bid, British American Tobacco, security, finance

World news – United States – Target Corporation announces first results of its tender and increase of its takeover bids for certain outstanding debt securities


SOURCE: https://www.w24news.com

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