JPMorgan’s comment on “mini-tender” offer by Latam Investments LLC

On Tuesday JPMorgan Chase & Co. announced that while the company is aware of the “mini-tender” offer by Latam Investments LLC to acquire up to 5,000 shares per week of JPMorgan Chase & Co. common stock it is in no way affiliated with the broker firm based in Miami, Florida, the offer, or the offer documentation.

JPMorgan noted in an official statement that in light of the scarce information pertaining Latam Investments LLC and the “mini-tender” offer, it cannot recommend to its shareholders if they should accept or reject the “mini-tender” offer. Still JPMorgan warned its shareholders to be very cautious and consider all of the possible risks before accepting Latam Investments LLC’s “mini-tender” offer.

“JPMorgan Chase understands that, under the terms of the “mini-tender” offer, at the time you accept the offer, you will not know the price per share being offered for your shares of common stock because that price will be set on a weekly basis based on the shares tendered. We also understand the Latam Investments LLC will only accept up to 5,000 shares of common stock per week, and that if your shares are not accepted you will not have the right to withdraw your shares from the offer and your shares will be carried over to the following week. Therefore, we understand that there is no assurance as to the price you will receive for your shares of common stock or when you will receive payment for your shares,” said the statement.