RE:RE:No Tender CMEDBang on....exactly my line of thinking also.
With the way the share prices had been going, it should have been a no-brainer for most investors to have gone for the all-cash option. Now, if the share prices had continue to move up on Wednesday, similar to how strongly they moved up on Monday and Tuesday, this would have been a different story. In light of the share prices though, the only other reason for selecting the all-share option would be the tax postponement issue which would certainly make sense in the case of non-registered accounts.
I really wanted to go for the all-share option for a couple of my smaller accounts, but just couldn't justify doing it and ended up calling in this morning with just 15 minutes left to go until the deadline. Based upon how I see the share price going short term, I will use the cash to either 1) purchase more shares than what I would have received under the all-share option; or 2) purchase back the shares that I would have received if I had selected the all-share option and then pocket the excess remaining cash.
I guess time will only tell if I made the right move or not here. Fingers fully crossed.
StrongLong wrote:
Why would the shares shoot up? Only if ACB shares pop up accordingly. ACB needs to break $12.65 for CMED shares to go over $43.00
I think that's unlikely to happen until the dust settles and there will probably be some sell off of ACB shares as people who joined the CMED ride for takeover cash out.
I wouldn't be surprised to see shares go down in the short term.