Acquisition - what happens to stock?
It was announced in October of 2018, that IBM will acquire Red Hat (RHT) for 190 per share. I have shares of RHT. Current price is in the 180 range. What will happen next?
Will my shares be converted to IBM shares? If so, where can I locate the conversion factor? If not, will I eventually "force sell" at 190? Is there any risk to sitting on the shares, or could it potentially fall apart, falling in price, and I should consider selling now?
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Yes, it was announced in October of 2018, that IBM will acquire Red Hat (RHT) for 0 per share.
In January, Red Hat shareholders "approved the adoption of the agreement and plan of merger, dated as of October 28, 2018".
IBM expects to close the deal in the latter half of 2019.
You can sell for approximately 2 now or you can wait and receive 0 per share in cash when the deal goes through.
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