Bell Aliant Inc BLIAF

Bell is short the 90% & have extended the offer until Oct 2

[canucktravellers]

According to this shareholders who have given the OK to transfer their shares via cash, BCE shares, etc. can take them back....will BCE offer more than to close this?....I think they may have opened a can of worms....must be some big time funds playing this for more money...ya think????? https://www.bellaliant.ca/english/news/view_art.asp?id=2309 Additionally, BCE has extended the common share offer, in accordance with its terms, to 5:00 pm Eastern on October 2, 2014 in order to enable holders of common shares who have not yet tendered to deposit their shares to the offer prior to the completion of the privatization of Bell Aliant. BCE expects to take up and accept for payment all common shares tendered in the extension and deposit payment for such shares with CST Trust Company on or before October 7, 2014. Holders of common shares who have validly deposited and not withdrawn their shares do not need to take any further action to accept the offers. If at least 90% of the publicly held common shares of Bell Aliant are tendered to the offer following its extension, BCE intends to acquire the balance of the common shares not tendered through compulsory acquisition on or about October 31, 2014, as described in the offer and circular dated August 14, 2014. If less than 90% of the publicly held common shares are tendered by October 2, 2014, BCE intends to effect, and will hold sufficient votes to approve, a subsequent acquisition transaction to acquire the remaining common shares at a meeting of Bell Aliant shareholders to be held on October 31, 2014. BCE also intends to effect, and will hold sufficient votes to approve (at a meeting of Prefco shareholders to be held on October 31, 2014), a subsequent acquisition transaction to acquire the remaining preferred shares.

[Dibah42]

Ma Bell does seem to have opened a new can of worms by suggesting that those who have already tendered may now have the option to withdraw!!! The way the share price has behaved since the take over announcement seems to indicate that there is some underlying murkiness in this transaction.  Those who reacted quickly and sold when BA hit $31.78 got the best bang.  Unless BCE is now foced

[moloko]

I'm not understanding this. I called TD and said I wanted option #1, $31 for all my Bell shares. Do I need to do anything else at this point? And if I wanted to just sell my shares right now could I?  iI Bell gets even remotely close to $31 I feel like I should just dump them and be done with all this   Sorry just not grasping this news release. Any help would be appreciated

[Dibah42]

If you opted for #1 ($31) then you don't need to do anything further.  Selling today would certainly incur a loss.  I'd sit tight if I were you. The brokerages must be going bananas if clients phone in with requests to withdraw their offer. I am not aware of any that are allowing it.

[moloko]

o.k thanks. say B.A does get to $30.90 and I wanted to sell it, could I?  or do I have no control of the stock now that i've told them I want $31 cash? Just thinking that it may be awhile before I'm even paid the $31 so I'd take a bit less to just get out quicker.

[whodathunkit]

Until the closing date you can withdraw your tender.  Unlike what a previous poster suggested, brokers cannot, not allow you to change your mind.  It is your right and they are your shares until the closing date. Cheers.

[moloko]

but do I have to call TD before selling in the open market, or can I just sell if it pops to close to $31 and then call T.D and tell them I've sold and to not worry about paying me the $31 on closing date?   cuz I'd rather do that :) Still showing as a normal holding in my account, so I think maybe I can. They haven't put a hold on it