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Strategies & Market Trends : Options
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To: steve mamus who wrote (1170)1/16/2000 5:58:00 PM
From: taxman  Read Replies (1) of 8096
 
"If QCOM gets bought out prior to expiration...?"

If all of the outstanding shares of an underlying security are acquired in a merger or consolidation, outstanding options will as a general rule be adjusted to require delivery of the cash, securities, or other property payable to holders of the underlying security as a result of the acquisition.

EXAMPLE: If XYZ is acquired by PQR in a merger where each holder of XYZ stock receives $50 plus 1/2 share of PQR stock for each share of XYZ stock held, XYZ options might be adjusted to call for the delivery of $5,000 in cash and 50 shares of PQR stock instead of 100 shares of XYZ stock.

regards
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