RTX Issues Warning Against Tutanota LLC's Mini-Tender Offer
RTX (NYSE: RTX) has advised its shareholders to reject the unsolicited mini-tender offer made by Tutanota LLC, aiming to acquire up to 500,000 shares of its common stock at a price of $130.00 per share. This offer represents less than 0.04 percent of the total outstanding shares of RTX. Notably, the proposed price is approximately 24.02% lower than the last closing price of RTX's stock of $171.10 on December 5, 2025, and about 31.72% below the $190.40 closing price on January 6, 2026.
Details of the Mini-Tender Offer
The mini-tender offer from Tutanota is contingent upon certain conditions, including the closing price of RTX's stock exceeding $130.00 per share before the offer expires. Without the waiver of this condition, RTX shareholders who tender their shares will effectively sell them at a price below the market value.
RTX is urging its shareholders not to engage with Tutanota's offer due to the significant undervaluation of shares. Furthermore, the mini-tender offer is subject to additional conditions, including Tutanota's ability to secure financing.
Shareholder Guidance and Market Implications
For those RTX shareholders who have already tendered their shares, it is recommended that they withdraw their tender by adhering to the procedures outlined in Tutanota's offer documents. The initial expiration of the mini-tender offer is set for 5:00 p.m. EST on January 12, 2026, unless an extension or early termination occurs.
RTX has no affiliation with Tutanota and does not endorse the mini-tender offer. Additionally, mini-tender offers generally allow bidders to avoid various disclosure and procedural requirements mandated by the U.S. Securities and Exchange Commission (SEC), thereby reducing investor protections typically found in larger tender offers.
Investor Warnings and Recommendations
The SEC has previously cautioned investors regarding mini-tender offers. Many such offers are made at below-market prices, potentially misleading shareholders who may not compare these offers against current market prices. For further information, investors can refer to the SEC's investor guide on mini-tender offers available at SEC's Website.
RTX advises shareholders to obtain current market quotations for their shares, and to consult with their brokers or financial advisors before making any decisions related to Tutanota's offer. Investors are also encouraged to review the SEC's communications regarding broker-dealer responsibilities related to mini-tender offers, which can be found at SEC Broker-Dealer Guidance.
About RTX
RTX stands as the world's largest aerospace and defense company, employing over 185,000 individuals globally. With anticipated sales exceeding $80 billion in 2024, RTX is at the forefront of technological innovation and scientific advancement. The company, headquartered in Arlington, Virginia, operates through renowned business units such as Collins Aerospace, Pratt & Whitney, and Raytheon, delivering integrated defense systems and next-generation technology solutions to address critical challenges faced by customers worldwide.