PPL Corporation Recommends Rejection of 'Mini-Tender Offer' by TRC Capital Corporation

PPL Corporation PPL has been notified of an unsolicited "mini-tender" offer by TRC Capital Corporation to purchase up to 4 million shares, or approximately 0.692 percent, of the outstanding PPL common stock at a price of $27.00 per share. TRC's offer price represents approximately a 4.22 percent discount to the $28.19 closing price of PPL common stock on Sept. 14, 2011, the day before the offer commenced. In addition, TRC's offer is subject to numerous conditions, including the availability of financing on terms satisfactory to TRC.