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9/22/2017 12:11:25 AM
Posted: 10/3/2005 12:17:16 PM EDT
A stock of mine got bought for $4 per share. Will I automatically be cashed out through my brokerage? Or exactly how will this take place.

Stock is Bindview (BVEW) and purchasing company is Symantec.

Yes, I'm too lazy to call the broker in New York.
Link Posted: 10/3/2005 12:22:06 PM EDT
I believe your account should be issued the dollar amount of shares you held for the new stock. You should also be able to track it for a while by entering the old stock symbol in a search like on Morningstar or even on the CNN home webpage.
Link Posted: 10/3/2005 12:30:14 PM EDT
[Last Edit: 10/3/2005 12:32:00 PM EDT by raven]
It depends on whether you established a link between your brokerage account and your bank account. If you didn't they're going to have to mail you a check.

Just a matter of time/convenience.
Link Posted: 10/3/2005 2:00:01 PM EDT
Or the cash value of your shares could be converted into shares of the new company.

I owned stock in a local, regional, Southern/mid-atlantic grocery store chain, it was bought by another, and I ended up with stock in a Belgium grocery store conglomerate.
Link Posted: 10/3/2005 2:12:23 PM EDT
As far as I can tell it's a cash offer. No mention of Symantec stock. I think this will finalize in Jan. 2006 or the 1st quarter of 2006 so that will save me declaring any taxable event for 2005.
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