I currently have stock in a company (MEP if it matters). The stock is being taken private again. What happens to my shares? I haven't received anything through USAA about it. I believe I read somewhere that it is being bought back at $8.00 a share. Do I need to do anything to make sure mine is sold?
Also if it matters it is being absorbed into EEP. Would my unsold stock just convert?
I work for a publically traded company that was acquired last month by another publically traded company.
In my case, no action was required on my part to transact the shares in the former company I held and I was given a combination of cash and stock in the new company. I still haven’t received an answer to my question about whether or not I’ll owe capital gains tax on the shares that were converted.
If you have a competent HR department, I’d start by directing questions to them.
Are your shares held in a brokerage account? You should receive correspondence from them regarding the transaction. The deal is scheduled to close in the second quarter of 2017. According to the article, you will receive $8.00 cash per share.
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