why are my shares still locked up in the tender offer?
my scottrade account shows the shares listed at cole.c1 I tendered all my shares at $12.24 but not a single one sold. This is my first time tendering shares can someone shed some light on this situation? does it take a while for the tender to close?
after a tender, it is several days before brokerage releases shares for trading. A silly thing that should be corrected. Modern technology should allow immediate release considering hedge funds (HFT) can trade hundreds of times per second. Within a week you should be able to dump your shares as everyone else wants to do
The tender offer was over-subscribed. The preliminary estimate is that you will actually tender approximately 7% of the shares offered.