LAS VEGAS, May 28, 2015 /PRNewswire/ -- Las Vegas Sands
Corp. (NYSE: LVS) received notice of an unsolicited mini-tender
offer by TRC Capital Corporation ("TRC Capital") to purchase up to
2,500,000 shares of LVS's common stock at a price of $47.63 per share in cash, without interest. The
offering price is approximately 4.61 percent below the closing
price per share of LVS's common stock on May
26, 2015, the last trading day before the mini-tender offer
was commenced. The offer is for approximately 0.31 percent of the
outstanding shares of LVS's common stock.
LVS does not endorse this unsolicited mini-tender offer and
recommends that shareholders reject the offer because the offer
price is below the current market price for LVS shares and is
subject to numerous conditions, including TRC Capital obtaining
sufficient financing necessary to consummate the offer. LVS also
recommends that any shareholders who have tendered shares to TRC
Capital withdraw those shares by providing the written notice
described in the offering documentation before the expiration of
the offer, which is currently scheduled for 12:01 a.m. Eastern Time on June 25, 2015.
LVS is not associated with TRC Capital, its mini-tender offer or
the mini-tender offer documentation.
TRC Capital has made similar unsolicited mini-tender offers for
shares of other public companies. Mini-tender offers are designed
to seek less than five percent of a company's outstanding shares,
thereby avoiding many investor protections, including the
disclosure and procedural requirements applicable to most bids
under United States securities
laws. The U.S. Securities and Exchange Commission ("SEC") has
cautioned investors about mini-tender offers, noting that "some
bidders make mini-tender offers at below-market prices, hoping that
they will catch investors off guard if the investors do not compare
the offer price to the current market price." The SEC also
published investor tips regarding these offers on its website at
http://www.sec.gov/investor/pubs/minitend.htm.
LVS encourages brokers and dealers, as well as other market
participants, to review the SEC's letter regarding broker-dealer
mini-tender offer dissemination and disclosures on the SEC's
website at
http://www.sec.gov/divisions/marketreg/minitenders/sia072401.htm.
LVS urges investors to obtain current market quotations for
their shares, consult with their broker or financial advisor and
exercise caution with respect to TRC Capital's offer.
LVS 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 the common stock of Las Vegas Sands
Corp.
About Las Vegas Sands Corp.
Las Vegas Sands (NYSE: LVS) is the world's leading developer and
operator of Integrated Resorts. Our collection of Integrated
Resorts in Asia and the United States feature state-of-the-art
convention and exhibition facilities, premium accommodations,
world-class gaming and entertainment, destination retail and dining
including celebrity chef restaurants, and many other amenities.
Our properties include the five-diamond Venetian and Palazzo
resorts and Sands Expo Center in Las
Vegas, Sands Bethlehem in Eastern
Pennsylvania, and the iconic Marina
Bay Sands in Singapore.
Through majority ownership in Sands China Ltd., LVS owns a
portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza
and Four Seasons Hotel Macao and Sands Cotai Central, as well as
the Sands Macao on the Macao
Peninsula.
LVS is dedicated to being a good corporate citizen, anchored by
the core tenets of delivering a great working environment for
nearly 50,000 employees worldwide, driving impact through its Sands
Cares corporate citizenship program and leading innovation with the
company's award-winning Sands ECO360° global sustainability
program. To learn more, please visit www.sands.com.
Contacts:
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Investment
Community:
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Daniel Briggs
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(702)
414-1221
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Media:
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Ron Reese
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(702)
414-3607
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SOURCE Las Vegas Sands Corp.