COLUMBUS, Ga.,
June 27, 2017
/PRNewswire/ -- Aflac Incorporated announced today that it
has received notice of an unsolicited mini-tender offer by TRC
Capital Corporation (TRC Capital) to purchase up to 1.5 million
shares of Aflac Incorporated common stock, which represents
approximately 0.38% of the shares of Aflac Incorporated common
stock outstanding as of April 25,
2017. TRC Capital's offer is at a price of $74.25 per share, which is approximately 4.32%
lower than the $77.60 closing price
of Aflac Incorporated's common stock on June
23, 2017, the last trading day prior to the
offer.
Aflac does not endorse this unsolicited offer, has no
association with TRC Capital or its offer, and recommends that
shareholders do not tender their shares of Aflac Incorporated
common stock in response to this offer. The offer is at a price
that is below the current market price of Aflac Incorporated common
stock and is subject to several conditions. The mini-tender offer
seeks to acquire less than 5% of the outstanding shares of Aflac
Incorporated common stock, thereby avoiding important investor
protections that apply to larger tender offers.
The U.S. Securities and Exchange Commission (SEC) has
warned investors that some bidders making mini-tender offers at
below market prices are "hoping that they will catch investors off
guard if the investors do not compare the offer price to the
current market price." More on the SEC's guidance to investors on
mini-tender offers is available at
www.sec.gov/investor/pubs/minitend.htm.
Shareholders should obtain current market quotations for
their shares, consult with their broker or financial advisor, and
exercise caution with respect to TRC Capital's mini-tender offer.
Aflac recommends that shareholders who have not responded to TRC
Capital's offer take no action. Shareholders who have already
tendered their shares may withdraw them at any time prior to the
expiration of the offer, in accordance with TRC Capital's offering
documents. The offer is currently scheduled to expire at
12:01 a.m. New York City time on Wednesday, July 26, 2017. TRC Capital may extend
the offering period at its discretion.
Aflac encourages brokers and dealers, as well as other
market participants, to review the SEC's letter regarding
broker-dealer mini-tender offer dissemination and disclosure
at
www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
Aflac requests that a copy of this news release be
included with all distributions of materials relating to TRC
Capital's mini-tender offer related to shares of Aflac Incorporated
common stock.
About Aflac
When a policyholder
gets sick or hurt, Aflac pays cash benefits fast. For six decades,
Aflac insurance policies have given policyholders the opportunity
to focus on recovery, not financial stress. In
the United
States, Aflac is the leader in voluntary
insurance sales at the worksite. Through its trailblazing One Day
PaySM initiative, Aflac U.S. can receive, process, approve and
disburse payment for eligible claims in one business day. In
Japan, Aflac is
the leading provider of medical and cancer insurance and insures 1
in 4 households. Aflac insurance products help provide protection
to more than 50 million people worldwide. For 11 consecutive years,
Aflac has been recognized by Ethisphere as one of the World's Most
Ethical Companies. In 2017, Fortune magazine recognized Aflac as
one of the 100 Best Companies to Work for in America for the 19th
consecutive year and in 2017 included Aflac on its list of Most
Admired Companies for the 16th time. In 2015, Aflac's contact
centers were recognized by J.D. Power by providing "An Outstanding
Customer Service Experience" for the Live Phone Channel. Aflac
Incorporated is a Fortune 500 company listed on the New York Stock
Exchange under the symbol AFL. To find out more about Aflac and One
Day PaySM, visit aflac.com or
espanol.aflac.com.
Institutional investor contact – David A. Young, 706.596.3264 or
800.235.2667; FAX:
706.324.6330 or
dyoung@aflac.com
Media contact – Jon A.
Sullivan, 706.596.3014, FAX: 706.320.2288, or
jsullivan@aflac.com
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SOURCE Aflac Incorporated