Posted on 02/15/2009 4:01:51 PM PST by GreaterSwiss
Just got today
RE: stock symbol BAC
The above listed stock is part of a non-mandatory reorganization or tender offer, which requires your timely attention. For details regarding this offer, contact your local branch office. Please note that failure to advise Scottrade of your intent may result in no action being taken, and we cannot be held responsible for any resulting loss.
If you decide to participate in this offer, you will need to inform your local Scottrade branch office no later than 10 a.m. ET on the expiration date, and a $25 fee will be charged to your account.
These shares must then remain in your account until the reorg/tender takes place (be advised that the expiration due date for such actions is often extended). Please contact us if you have any questions.
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Check out also http://img27.imageshack.us/img27/9679/bacbl4.png -------------------- Mini-Tender Offers (from SEC)
"Mini-tender" offers are tender offers that, when consummated, will result in the person who makes the tender offer owning less than five percent of a company’s stock. The people behind these offers—also known as "bidders"—frequently use mini-tender offers to catch shareholders off guard. They count on investors jumping to the conclusion that the price offered includes the premium usually present in larger, traditional tender offers. But with mini-tender offers, the price offered may actually be below the market price.
Bidders in mini-tender offers limit the offer to five percent or less so that they do not have to comply with many of the investor protections that are in place for larger tender offersmade by bidders whose total ownership after the offer, when added to their holdings before the offer, would exceed five percent. For instance, shareholders in mini-tender offers don’t receive documents that describe the tender offer in the same detail as documents that are required to be filed in a traditional tender offer. Bidders making mini-tender offers also do not have to file documents with the SEC or provide withdrawal rights to investors who tender their shares into the offer.
Investors who surrender their shares without fully investigating the offer may be shocked to learn that they cannot change their minds and withdraw. In the meantime, they’ve lost control over their securities and may end up selling at below-market prices.
Your the bum. His wife got up most everymorning for 32 years. Spent at least 8 hours a day at a job she probably hated some of the time. She paid her dues. And she most likely raised a family during that time too. She didn’t sit on her butt for those years and draw welfare and Medicade. She deserves it.
I own BAC and have received no communication. If the poster does not have Scott Trade account, email could be spam, trying to get people to click on the link.
I just opened my amtd acct, could find nothing at all....fwiw, placed and then canceled a limit buy...I think this is a hoax
Thanks. I agree with the next post.
I think it is a hoax Have watched Bloomberg for an hour Nothing on it pertaining to BAC.. an this would have been news
Agree.
She deserves it.
I think from your point of view it would appear you will be very happy with the new socialist govt we have coming.
BAC is crap. They are pro-illegal alien. I would never do business with the scum.
people keep posting on Y that they got the same email...maybe someone who trades on the foreign exchanges hacked scottrade?
read later
Folks, I think this is a hoax by Scottrade.. I checked Forbes and I have found nothing about this news.
Googling “bank of America” Tender offer yields two hits posted today, one is the bloomberg scotttrade story and the other is a spyware link disguised as the same story. No hits in news.
It would be interesting to see that chart with remuneration required, my point being as the age increases my guess is the pay requirements increase
Pentagon Federal Credit Union.
Or bank with USAA. My boss is a retired army LTC - and is constantly suggesting I bank with USAA.
I’ve been with my credit union for 34 years, I don’t plan to change that now.
Try a little tender-ness.
Is your fund symbol FGMNX?
Well, I got one of these in my e-mail which looked authentic and it was widely discussed on Yahoo. The address and phone numbers for the local office seemed authentic and there was no link such as used for phishing. I don’t know how they would have gotten my e-mail because it was furnished to Scottrade and they would have had to know I owned a little BAC stock. Looks OK to me, although I don’t quite know what to make of it.
You've been here long enough to know better than that. Bloomberg has been on the Do Not Post list for years. http://www.freerepublic.com/focus/f-news/1111944/posts
Own a small bit of BOA, less than 1k, but...
ML broker is helping me get cocked and locked to move two accounts to...whereever...just in case...not a normal banker move...
Saw a story Wednesday, wheel at BOA, second tier maybe not the big dog...said US Gov needs to nationalize BOA...immediately.
Finally, ML broker says one nationalized bank is way too un-level of a playing field...all or none.
No links, just what I hear...
YMMV.
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