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Neuberger Berman Real Estate Se Message Board

  • msburko msburko Oct 7, 2009 12:55 PM Flag

    Trading the Tender

    This is for those of you out there who are slower than I am. Don't laugh, there may be 1 out there.

    The trade on the tender offer is to submit your shares for the tender. On the tender date (10/16) buy an equal number of replacement shares on the market. The new shares would be at the current discount (about 5%).

    The risk is that the market price will be at a premium to NAV. Back in Sep I thought they were going to be. If share are at a premium wait for the price to fall back to a discounted price. That should happen pretty quickly (a few days).

    OK time to tell us what I got wrong here.

    As for me, I don't have enough shares to make it worthwhile.

    Thanks for listening, Mitch

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