Carmax recommends shareholders reject below-market “mini-tender” offer by trc capital investment corporation

Richmond, va.--(business wire)--carmax, inc. (the “company” or “carmax”) (nyse:kmx), has been notified that trc capital investment corporation (“trc capital”) has made an unsolicited “mini-tender” offer to purchase up to 1,500,000 shares of carmax’s common stock, or less than 1% of the outstanding common stock of the company as of may 31, 2020. trc capital’s offer price of $82.50 per share in cash is approximately 4.71% lower than the $86.58 per share closing price for the company’s common stoc
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