to tender, just call your broker ask then they will do in on the phone for you.
Scottrade charges onetime $25 per account as processing fee regardless sh amount.
you will see your share still held in your account till deal completed.
Trading will halt if more than 50% of total sh are tendered by 6/20 and the deal completed.
If not tender expiration date will be extended for undetermined period.
CASH payout for $6.44 will take about ANOTHER 3 WEEKS from deal completion.
Again, you will nor receive cash for trading AT LEAST FOR 1 MONTH OR 2-3 MONTHS.
10 to 15 cents premium and your fund " FROZEN" for 1-3 months is the cost of "CVR".
Call the handling co direct if Any questions
Innisfree M&A Incorporated
501 Madison Avenue, 20th floor
New York, NY 10022
(877) 687-1875 (stockholders call toll free)
(212) 750-5833 (banks and brokers call collect)
I Just got off the phone with TD Ameritrade. The cutoff date for TD Ameritrade is on June 18th so they can process everything by the Chelsea cutoff date of June 20th. I was specifically told when I asked that within 10-15 DAYS AFTER the 20th you will have the $6.44 per share back in your account along with the posted CVR per share. Please check with your broker and confirm what I was just told. I don't think TD Ameritrade would have told me anything if they didn't know for sure. I also asked the hypothetical question if someone were to come along and offer $15 (not going to happen) a share now that I committed to this buyout does it automatically become null and void and the new one take its place. They said NO....you have to call and cancel your commitment and then take the new offer. Unlikely, but something we should be aware of.
"Again, you will nor receive cash for trading AT LEAST FOR 1 MONTH OR 2-3 MONTHS"
That is a bit of an exaggeration. Shareholders who do not tender their shares should receive the cash and CVR within 2-4 weeks. A fairly recent rule change for two-step mergers has essentially eliminated the possibility of a "2-3 MONTH" wait.
I believe it is still a 30 day waiting period for payment (for Delaware corporations) to allow those who wish to do so to assert their appraisal rights. I don't believe that changed with the short-form merher changes. So, that's what I'd expect, FWIW, if you don't tender. IMHO, the only reason to do this is for tax purposes, as I believe it is a black hole in terms of equity in your account while you wait (at least it is not marginable equity). I've been thru this before, and it kinda sucks if you manage the acct tightly. Realistically, if you do tender, you should get the money in 2-3 business days from the close of the tender. HTH.
So..what is the real possibility that we will actually see any of the CVR money considering it is the excess over $100,000,000 yr 1...$200,000,000 yr 2..and sales of $300,000,000 yr 3. Can it actually sell more than that.
You just have to decide within next 7 days,
Just bite the bullet or Just walk away.
I tendered my shares not because I believe all those pumper analysts estimates but because of Lundbeck's expertise in Neuropsychiatric field.
Abilify, Lexapro,Celexa...... Just to name a few successful executions Lundbeck has shown,
I decided to take some risk here.