Q: If I still own shares by the date the company is acquired will my account simply be credited funds owed and the shares be removed from my account? Or, do I need to sell in advance of the transaction? When is that date?
5i Research Answer:
The vote is Feb 21, and we would expect closing a few weeks after that, if the deal is approved. If all conditions are met, shares not tendered will still be taken up and paid for. It will be automatic, if conditions are met. However, we generally advise tendering, so as to avoid any possible delays in receiving payment. Note also that selling will incur commission (at most brokers) whereas tendering will not.