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Mini Tender for Exxon

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TRC Capital has issued a mini-tender offer to buy anyone’s shares of XOM (LINK) for $78/share.  XOM is currently trading over $81/share.  What gives?

They are hoping that people just accept the tender offer without doing their research.  This works because many people do exactly that.  Once you accept the offer, you can’t go back on it.  They will buy the stock for $78, and could resale it on the open market for over a $3/share instant profit.

Always do your homework.  It’s buyer-beware…or in this case, seller-beware.