RTX Recommends Shareholders Reject "Mini-Tender" Offer by Tutanota LLC

Core Viewpoint - RTX has received an unsolicited mini-tender offer from Tutanota LLC to purchase up to 500,000 shares of RTX common stock at $130.00 per share, which is significantly below the market value of the shares [1][2]. Group 1: Offer Details - The mini-tender offer represents less than 0.04% of the outstanding shares of RTX common stock [1]. - The offer price of $130.00 is approximately 24.02% below the closing price of $171.10 on December 5, 2025, and approximately 31.72% below the closing price of $190.40 on January 6, 2026 [1]. - The offer is conditioned on the closing price of RTX common stock exceeding $130.00 on the last trading day before the offer expires [1]. Group 2: Company Response - RTX recommends that shareholders do not tender their shares in response to Tutanota's offer due to the below-market price and additional conditions [2]. - Shareholders who have already tendered their shares can withdraw them before the offer expires on January 12, 2026 [2]. Group 3: Regulatory Context - Tutanota has previously made similar mini-tender offers for other companies, which typically seek to acquire less than 5% of a company's shares to avoid extensive SEC disclosure requirements [4]. - The SEC has cautioned investors about mini-tender offers, noting that they may be made at below-market prices [4]. Group 4: Company Overview - RTX is the world's largest aerospace and defense company, with over 185,000 employees and projected sales of more than $80 billion in 2024 [7].