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Not that I have expertise in that, but something like NOK buying out outstanding shares at the close price on Jan 13th would make sense. It also might make sense for them to offer the same thing we got - .55 shares of NOK for every ALU share they had. (If it were a cash buyout, it's still a taxable event, no?). If the 'holdouts' didn't receive fair value, I'd think they could sue in terms of being forced to accept a price that was not equivalent to what fair value - pegged as .55 NOK shares - was. But....if that were true, why couldn't all shareholders protest/sue at being forced into a taxable event when what really going on is a share swap? I know, I know, because the 'rules' allow it, it's happened a million times before. But when I think about it, I also realize (I think) that NOK has double-screwed us - the 'taxable event' plus a holding period erased and begun again on Jan. 14th, or whatever the date, means that the clock is reset on all those shares one was wanting  to hold for at least a year before selling. This all seems rather unfair to me. One might unwillingly pay taxes on short term shares when you get NOK swapped for ALU, and again (if you sell) before Jan 2017. But, that changes nothing.