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Biotech / Medical : Immunex
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To: RCMac who wrote (646)12/19/2001 4:14:03 PM
From: LemurHouse  Read Replies (1) of 656
 
I believe you are right re treatment of the cash. I should not have characterized it as "tax-free." (Is anything ever "tax free?") As I understand it now, the stock conversion will not a taxable event but the cash distribution will be, as you have described.

I would have been a little less casual about it if I expected to still be around for the conversion -- although that's a lame excuse. FWIW I've begun to sell off my position and am hoping for a little January bounce to exit completely.

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