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ALU/NOK offer
So I got 5 emails today reagrding the NOK/ALU offer and I need
to let my broker(s) know what I want to do. The curious thing is
that I am custodian of my kids accounts through Capital One and
there is no mention of any sort of fee, but from TD Ameritrade I
got the below. My question: What are "voluntary
reorganization instructions"? Does each account accrue a fee?
Is this always or only if I do not reply before the deadline?
All the legalese is gibberish to me.
"You are responsible for full compliance with the terms of the
offer. In the event of a discrepancy between these terms and
the offer material,the offer material prevails. TD Ameritrade
does not endorse or make anyrecommendations on corporate
actions. Your submission of instructionsthrough reorgaction.com attests that you
hold a net long position ofthe security in accordance with 17 CFR
240.14e-4. Funds must be available in your account in order
to process rights and warrants subscriptions. A$38.00
processing fee will apply to all voluntary reorganization
instructions."
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Jon,
I have six accounts with ALU holdings at two brokerage houses, I
sure hope the fee is for all holdings across accounts in each
brokerage house.
I called one of the two brokerages early today and they were not
ready to comply, so I do not know how much I will need to pay.
BTW, this is the first time I hold an equity through a merger
completion, typically I have sold it on the merger news, taking the
money and running so to speak.
May I suggest you call TD Ameritrade to find out if it is per
acount or if it is one charge for all, if you do, please let us
know.
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Author:
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LongTerm
CapGains
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Subject:
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News
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Sentiment:
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Neutral
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Date:
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11/19/15 at 4:04 PM CST
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Jon,
AFAIK I've not gotten that kind of notice from my broker. I may
be wrong. It *sounds* like they're saying before they say 'goodbye'
they're going to grab you by the ankles turn you upside down, and
if anything fall out, it's theirs. I do recall that with this
funny-munny European ADR's there was something on the way in to ALU
that gave me pause - that they can charge you some kind of
'management exchange' fees or some such language from time to time,
up to 4 times a year IIRC. Now, if they shook $38 out of every
current holder of ALU - why, that would be a large fortune. It may
simply be a case of 'if they can, they will - why not?'
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Author:
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Jam
ok
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Subject:
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News
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Sentiment:
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Neutral
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Date:
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11/19/15 at 7:49 PM CST
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