Q: I currently hold TCN in my US account to get the dividend in US dollars. Today I noticed TCN was listed as a CDN holding in my US account. I phoned TD to find out why and they informed me that TCN was delisted in the US. My understanding is that Blackrock offered 11.25 US a share for the takeover. So does this mean I will only be paid in Canadian dollars in my US account and then I would have to pay exchange fees to US dollars. Confused
5i Research Answer:
We do not think investors should have to pay f/x fees here if the stock was held in a US account. It has been delisted in the US but for some reason still trades TSX (it will be delisted tomorrow). The takeover consideration was in US dollars, and investors may need to fight any f/x fees under the situation as described in the question.