Comments on: Purchased AutoNation – Odd Lot Tender Offer

By: David

David — Sun, 12 Aug 2007 15:20:22 +0000

Acosta Financial offers odd-lot tender offers for any security that trades with a cusip #.

The only fee is a per share processing fee.

Have your broker communicate with them at 305-579-9705

By: Dave

Dave — Sun, 09 Apr 2006 04:07:45 +0000

What are the tax ramifications of an odd lot tender?

By: George

George — Fri, 24 Mar 2006 04:27:01 +0000

Hi Jim -

Thanks for the update. Firstrade told me that they couldn’t process the tender offer yet. Hmm… I might have to call them, because I don’t think the email I received from them is correct.

By: Jim Chan

Jim Chan — Thu, 23 Mar 2006 16:50:19 +0000

Just got my 99 share this morning at 21.70. Ameritrade already proceed to process the tender offer for me. Thanks for the tip. Also, those who has Ameritrade and is an Apex account member (active trader or has substantial equity), the $30 fee is waived. Lucky me, quick $130 turn around in 20 days. Works out to be 100% return annually.

By: George

George — Thu, 16 Mar 2006 01:02:19 +0000

Fees are an issue. That’s why I don’t use Fidelity. A low cost broker like Firstrade gives you a lot more flexibility to take advantage of these opportunities.

By: Chuck

Chuck — Wed, 15 Mar 2006 15:43:18 +0000

Be careful with the fees. They can be steep. Fidelity charges $38 if you are not a gold level customer. Also, with Fidelity you have to tender at least one day before the expiration date and the trade has to have settled prior to the day you give Fidelity tender instructions. I’ve done a number of tender offers; almost all have worked out favorably and the cash is typically received about 10 days after the expiration date.