Tuesday 4 September 2007

Takeover Debris

One of the stocks in my porfolio was taken over recently, with the default offer being a mix of shares in various Babcock & Brown investment vehicles plus some cash. I should have completed the paperwork to nominate a preference for receiving cash only for the takeover, as it is I've ended up with various tiny stockholdings:
BBI 105 shares worth $174.83
BBP 93 shares worth $271.56
BBW 36 shares worth $59.40
BEPPA 222 shares worth $200.91

If I'm very lucky these stocks may have a DRP that rounds up to whole numbers of shares, but I doubt it. There will probably be an offer to buy back these shares from stockholds with small parcels at some stage - it costs the companies too much to communicate with stockholders that only have $59.40 worth of BBW shares, for example.

You can get easily mortgage from bank if you have better credit rating. People need to follow each procedure to get home loans and satisfy their needs. Financial institutions have many other products like they are offering now different credit card to their current customers. We have seen many debit and credit card with different credit limits so one can spend in shopping. If you have master card then you can change your limit after some duration and also can get extra reward. Many travel companies are also looking for the assistance and travel insurance can help in order to any damages.

Copyright Enough Wealth 2007


mOOm said...

That's really weird, why all these different funds? What was taken over.

Symbion takeover is going to be down to the wire if Primary can manage to blow it up by voting their shares against it. I should have sent in my proxy. I never bother assuming I won't make a difference.

enoughwealth@yahoo.com said...

Alinta was taken over. The offer was A$8.925 per share in cash, plus shares in several Babcock & Brown funds. The funny thing is that I had some Alinta shares in both of my margin loan accounts, so I now have small holdings of each of these ETFs in two different CHESS accounts. I'll probably take the trouble to transfer the funds from my Leveraged Equities account into my Comsec account to consolidate the holdings as much as possible. I'll have to go through the nausea of working out the capital gains tax due this financial year anyhow, so I may as well do the transfer.