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I'm inclined to reject it. In fact I just rejected it but I have until 9/27 to change my mind.
Analysts say there "should be no tax consequences" from taking the offer, but my P&G shares are in an IRA so tax consequences aren't on my radar screen.
The spinoff of Smucker's from P&G a few years ago turned out great. But from what I read, Coty is not worth it. Wondering if anyone has an opinion either in agreement or contrary to mine.
I have the huge packet still sitting on the table. I just looked at the upcoming October issue of Dividend Investor who also holds a position and he says they're not going to do it.
P&G management has been selling off some of their older product lines like soaps, some detergents, coffees and food products like Duncan Hines. They recently sold Duracell, which they acquired when they bought Gillette. I don't know why they are getting rid of their cosmetics businesses. Only a financial wizard can understand the complex transactions by which they intend to sell or transfer that business to Coty. I threw my proxy in the garbage.
What P&G will be left with are razor blades, toilet paper and diapers.
I don't like these split-offs. My portfolio holds several of these which are problematic for several reasons:
1. I end up with just a few shares in ...
2. Some dinky company that doesn't pay a dividend and that ...
3. I didn't want to own anyway (wasn't my decision) and ...
4. If I want to sell it, I have to pay the $7.95 broker fee.
Of course the investment bankers make $ millions off these splits and mergers and splits and mergers and splits and mergers and etc. Kind of similar to the way that lawyers make money off lawsuits no matter how frivolous and stupid they are.
I have the huge packet still sitting on the table. I just looked at the upcoming October issue of Dividend Investor who also holds a position and he says they're not going to do it.
Coty dod not look attractive long term so I did not exchange any shares of P& G for Coty
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