Research In Motion Ltd., maker of the BlackBerry wireless service, said it doesn't recommend or endorse an unsolicited "mini-tender offer" made by TRC Capital Corp.
TRC offered to purchase up to 1 million, or 0.5 per cent of the outstanding common shares of the company for $69. That's a 2.89 per cent discount to the $71.05 closing price on Nov. 1, the day before the offer was made.
"RIM wishes to inform its shareholders that it does not recommend or endorse this unsolicited offer, and that RIM is not associated with TRC Capital, the offer or the offer documentation," the Waterloo, Ont.-based company said.
RIM shares fell $2.77 or 3.5 per cent to $77.55 Wednesday.