you won't own HUM stock unless you go buy that HUM stock. for MDF acquisition , HUM is paying with cash so we all get cash. I wish they would pay us with HUM stock actually so we are not forced to "sell" which in that case will trigger capital gain tax (which to make it worse, the tax rate is scheduled to increase soon/next year which is when the HUM/MDF transaction should complete sometime in Q1 2013). If they had paid us in HUM shares, we can carry over the cost and not pay gain tax until we sell the humana shares. oh well, can't complain too much as it's still better having gain and pay capital gain than losing money/capital. the decision that people are facing now is whether they should sell before the end of the year to "lock-in" a lower tax rate. Last but not least, congrats to all MDF longs. we sort of know this day will come. I just didn't picture it will be this year.