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Astex Pharmaceuticals, Inc. Message Board

  • buysell1929 buysell1929 Oct 5, 2013 2:24 AM Flag

    Call From Someone Claiming to Represent Otsuka

    Have a message on my answering machine from someone that said they were calling on behalf of Otsuka to remind shareholders that the tender offer ends on October 10th. Also left a phone number in case I had any questions. The phone number belongs to Innisfree M&A Incorporated. They are often hired for proxy solicitations.

    Sounds like it may be a long week for Otsuka if they are calling retail investors. :)

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Not a surprise a many times the company holding your stock will contact you shortly before expiration of the tender. I receiced a similiar e-mail yesterday from Charles Schwab. I was not happy with the wording because it made it sound as if I must take action to tender my stock and I actually called my local office over 1 1/2 weeks ago and told them that I saw no reason to tender my stock. Unfortunately, these type of message can make some uneducated investors tenders stocks when it makes no sense. The message in the case of ASTX should have said please note you can sell your stock right now above the tender price. I have had a number of my stocks tendered so I am not new to the process.

      • 2 Replies to bobby673
      • Not a surprise a many times the company holding your stock will contact you shortly before expiration of the tender. I receiced a similiar e-mail yesterday from Charles Schwab.

      • There IS an involuntary aspect to the offer - we must tender before a certain date, or the option to tender disappears when the offer expires. And the date could be a little earlier than the official expiration date if the stock is held through a brokerage, to give them time to complete the transaction. So it would be a nice courtesy for them to make a phone call.

        Who knows, if the investor is uneducated the offer email could have got hung up their junk mailbox and they never saw it, or If they're REALLY uneducated they don't even read the yahoo message boards LOL. Hopefully there are not enough uneducated holders left to make a difference any more!

 
ASTX
8.4950.000(0.00%)Oct 10 4:00 PMEDT

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