You have a few choices:
a) Sell now. You Don't get the whole $35, you have to pay commissions, and you miss the possibility that someone comes in with a higher offer, as well as the risk that the deal collapses (I keep reminding myself of MCIC a while back, which did both).
b) Tender your shares when you get the info from GEC/FORE/your broker. No commissions, they'll take your shares (can't trade 'em anymore), and you won't get your $35 till they're sure they have enough shares to declare the deal done. I'm not sure what the risks are between tendering shares and deal completion.
c) Do nothing. When the deal completes, your shares will eventually be replaced by $35 in cash. The least effort required, but the longest wait for your funds.
Many people are so sick of being bounced and battered by FORE, that they sold at the first opportunity (probably why price approached the $35 when deal announced). I intend to wait till near the end of the tender to see what happens. Opposed to XYLN, I'm not sure we've heard the end of this story.
Can anyone illucidate the risks of option B above? Is there any more/less risk in tendering early rather than later?
jas. |
