Alltel buyout

[happy2bretired]

I have 378 shares of Alltel. Can someone tell me if this "buy out" means that I will have to cash in my stock? Since the buyers appear to be private, that is my assumption, that I will have to "sell" my shares. Do I understand correctly?

http://www.reuters.com/article/hotStocksNews/idUSN2129291320070521?pageNumber=2

 

[brewer12345]

Yup, you will pretty much be forced to sell. Basically, if you do nothing the stock will convert into cash in your account more-or-less automatically.

 

[terminator]

Now you get to play the arbitrage game and figure out when it will close, the likelihood of closing, whether they are contemplating paying out any dividends in the meantime and whether you like that return.

 

[happy2bretired]

Thanks guys...that's what I thought. I kinda hate to see this happen with this particular stock. My mother was a telephone operator in a small town in the 30's and 40's (long before Alltel, but, with another phone company that Alltel bought a few years ago). She bought shares while she was working there for 18 years. When she died, I inheirited the the stock (not 378 shares tho). My mother had always just had the dividends paid out to her for her "pin money", but the stock would split every so often, making it grow that way. After my mother died back in the late 80's, I started reinvesting the dividends and it grew a little more. It was always kind of a sentimental thing. That's the only sentimental stock that I own tho.

Hmmm...I can see some more travel on the horizon.