Share Conversion - Standard PracticeIt is standard for there to be some odd looking numbers during a share conversion when one company purchases another in exchange for shares.
Each time I have owned stock in a company being purchased it takes a few days for the transaction to be completed once approved, sometimes up to a week. I've also noticed from following forums on these transactions that the dates are not consistent between different brokers, some brokers are faster than others.
My practice is to make sure I have records of how many shares I own of the company being aquired, once the transaction is done, and the new company shares are in my account I double check to make sure the conversion was correct. Haven't seen a mistake yet and I expect it to be accurate again this time.
I know for some it can be unnerving seeing shares appear and dissappear; however, there is a significant paper trail and electronic paper trail on these transactions. My experience is they are completed correctly but sometimes it takes more time than people want.
Hopefully sharing my experiences is helpful to some who haven't owned shares in an acquired company before.