New York, Jan 14, 2026, 18:43 EST — After-hours
- P&G urged shareholders to turn down an unsolicited Potemkin mini-tender offer priced at $100 a share
- PG shares ended Wednesday roughly 1.5% higher, with little movement in after-hours trading
- Traders are eyeing the Jan. 22 earnings report and the dividend record date set for Jan. 23 next week
Procter & Gamble shares climbed Wednesday following the company’s alert to investors about an unsolicited “mini-tender” offer from Potemkin Limited, which aimed to buy a small portion of its stock at $100 a share. (Procter & Gamble)
Mini-tender offers usually target under 5% of a company’s shares and aren’t subject to the same disclosure and procedural requirements as bigger tender offers, according to a longstanding SEC staff letter. (SEC)
This notice hits at a busy time for P&G investors — cash equities are closed today, the dividend date is looming, and earnings are still a week out. The real question isn’t the paper itself, but whether shareholders will sell shares well below market value.
P&G announced that Potemkin’s offer applies to up to 50,000 shares, potentially more depending on the terms, and is set to expire at 5 p.m. New York time on Oct. 13, 2026. Shareholders who have already tendered may withdraw their shares within 14 days after receiving the acceptance form. The company also advised holders to review current market prices and seek advice. (Business Wire)
PG shares closed the regular session up 1.46% at $146.35, marking a fifth straight day of gains despite declines in the S&P 500 and Nasdaq, according to MarketWatch data. (MarketWatch)
The day before, P&G announced in an SEC filing that its board set a quarterly dividend of $1.0568 per share. The payout is scheduled for Feb. 17, 2026, or later, to shareholders recorded as of Jan. 23, 2026. (SEC)
The company reported it has paid dividends for 135 years straight since its founding in 1890 and increased its payout every year for the past 69 years. (Procter & Gamble)
P&G’s fiscal second-quarter earnings call is set for Jan. 22 at 8:30 a.m. ET, the company’s investor site confirms. (Procter & Gamble Investor Relations)
The call will offer an early glimpse into the new leadership team. Shailesh Jejurikar, who took over as CEO on Jan. 1, said in a previous company statement, “I am honored to serve as P&G’s CEO.” (Procter & Gamble)
Investors are zeroing in on costs and demand as the quarter unfolds. A Zacks note, highlighted by Nasdaq on Tuesday, flagged tariff-driven cost pressures and a sluggish consumer environment, noting heavier promotions in key areas. Management reportedly called fiscal Q2 probably the “softest” quarter due to tough year-over-year comparisons. (Nasdaq)
The mini-tender announcement doesn’t signal a shift in strategy or guidance, and it’s unlikely to move the stock by itself. If the next update takes a more cautious tone on volumes or costs, the dividend narrative could unravel quickly.
Traders are zeroing in on two dates: the earnings call on Jan. 22 and the Jan. 23 record date for the quarterly dividend. All eyes will be on whether the Potemkin offer, despite its discount, actually gets traction.
