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For the OP, most buyout's are either a symbol change - you get 3 shares of ABC in exchange for every 1 share of XYZ, or you get a check.
Actually, the definitive terms for each specific acquisition are widely available--jus google it. This is from the news release from Covidien: " The Board of Directors of both companies unanimously approved the transaction, pursuant to which a wholly owned subsidiary of Covidien will pay $2.08 in cash per share of PMI common stock."
That snippet tells the story--this was a cash deal, not a stock-for-stock acquisition. If you hold the certificate you get a letter of transmittal to send in your stock in order to collect, or else the shares are just cancelled and you get a check in the mail. For shares held in a brokerage account, the shares disappear and the money shows up. Instructions are sent to each shareholder.
My mother has been approached by a Us company who want to buy her shares for a considerable amount. She has no share certs , poss lost. The company say this is not a problem. Is this a scam ???
Bought stock in PMII at $.52 and now they are being acquired by Covidien for $2.08 per share of common stock. I wanted to keep this for a few years.
What does that mean for me? Does my stock convert to Covidien shares or do they essentially buy out the shares and I would just have to take the short-term gain?
Assume you already got your cash.....and maybe even spent it by now.
My mother has been approached by a Us company who want to buy her shares for a considerable amount. She has no share certs , poss lost. The company say this is not a problem. Is this a scam ???
Sounds, slightly fishy.
Do you have all of this information for the "company" that contacted her?
1. Name of the company.
2. Their full address.
3. Their fax number.
4. Their phone number.
5. Their website.
6. Their e-mail address.
Have you written to their addresses, and called the phone numbers, to verify they are all working?
How did they approach you Mother?
I get proxy materials from my broker, not the company directly.
Your broker should know about it.
Call and ask them.
I am contemplating purchasing stock but the company I want to buy stock in is closing in the beginning of August with their purchase of another company becoming the 3rd largest in the world. My question is will the stock prices drop dramatically right before the buy out or will it keep on increasing in value up through the buy out without affecting the stock at all? The stock was at $5.11 in November and has been on a constant rise to $14.33 now.
I am holding stock for my deceased husband. Now the I am in need of money. I called Gould Inc. and found out is not the same that is trading in the market.
Was told that Gould Inc. sold the Company in 1989 to a Japanese Company in Tokyo.
How can I find out how much they paid out when they bought Gould Inc. And how do I get the money for the stocks. I owned the same property since we bought the stock in 1978. The Gould Co. employee said that at the time they mailed notices to all stock holder. We never received such notice. My husband pass away in June 1989 and I was holding the stock waiting for a time when I needed money.
Please help I am a disabled 70 yr. old widow. Thank you.
I am holding stock for my deceased husband. Now the I am in need of money. I called Gould Inc. and found out is not the same that is trading in the market.
Was told that Gould Inc. sold the Company in 1989 to a Japanese Company in Tokyo.
How can I find out how much they paid out when they bought Gould Inc. And how do I get the money for the stocks. I owned the same property since we bought the stock in 1978. The Gould Co. employee said that at the time they mailed notices to all stock holder. We never received such notice. My husband pass away in June 1989 and I was holding the stock waiting for a time when I needed money.
Please help I am a disabled 70 yr. old widow. Thank you.
What should have happened is the paying agent for the buyout in 1989 should have held the money you were entitled to for a set period of time (varies from state to state) usually 3 - 7 years. At the end of that time, if its unclaimed they turn it over to the state treasury for either the state you lived in (whatever address they had) or the state where the company was incorporated (which is more often than not Delaware).
Check with Delaware and your state treasury's unclaimed property web site and do a search to see if it's there. If it isn't, I'm not sure what else can be done.
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