Abraxis bio (abbi) recently announced that they are split and create 2 separate companies. and shareholders will recieve one stock of each company. but didn't give any date to when it will happen?
2007-07-11 07:10:14 · 1 answers · asked by punjabi_94901 1 in Business & Finance ➔ Investing
It means that if you like one part of their business, you can keep it and sell the other half.
WARNING: They will at one point send you a letter telling you how to divide the cost basis of your original stock between the two new companies. KEEP THIS LETTER! You will need it at some time in the future when you sell the stock to calculate taxes.
It is common to announce something like this and then announce the date later, because the required approvals and legal paperwork can take quite a while and when they start, the don't know how long "a while" is.
2007-07-11 07:29:22 · answer #1 · answered by Ted 7 · 0⤊ 0⤋