Going Private

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Current Going Private Transactions

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Completed Going Private Transactions

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21 thoughts on “Going Private

  • June 24, 2005 at 1:15 pm

    Great site, some more for your consideration:

    United Tennessee Bankshares Inc (UTBI) reverse split
    all shareholders who beneficially own (including certain family ownership as specially defined herein) fewer than 2,500 shares of common stock will receive a cash payment for such shares in the amount of $22.00 per share;

  • June 27, 2005 at 10:31 pm

    Do brokers charge a fee when the shares are cashed
    out or when the listing changes to the pinks? Thanks

  • June 28, 2005 at 6:23 am

    Sometimes brokers do charge a “reorganization” fee. I have yet to pay one of these fees. I think often the company doing the reverse split picks up the cost of these fees.

  • June 30, 2005 at 8:30 am

    Thanks for all of the information you are providing. As an investment in the same vein as these going proviate transactions, you may want to look into Tender Offers, particularly Dutch Auction Tender Offers. In these, the purchase price is unknown but the timing is much more certain than in the case of reverse stock splits. In many cases if you own fewer than 99 shares the company will purchase all of your stock. I’ve been doing these for about a year, and have participated in 14 of these and only lost money in one. Overall, my return has averaged 3.9% over an average period of 20 days. One caveat: your broker will probably charge you a fee.

  • June 30, 2005 at 8:45 am

    Forgot to mention, the most recent of these is PFCG.

  • July 2, 2005 at 10:20 am

    Make that PFGC

  • July 3, 2005 at 8:37 am

    Thank you for informing us of the UTBI going private transaction. I have added it to the list above.

  • July 9, 2005 at 1:47 pm

    One thing I would recommend would be having a script that shows the current bid ask next to the tender offer. Also I would add another line for additional comments such as “they can cancel at any time” or “they can cancel if over $xxxx is used to buy fractional shares”

  • July 10, 2005 at 11:11 pm

    I also found a few errors such as CIBI filed def proxy a few days after pre and a big mistake on MRI where its not street name, its holder of record.

  • July 11, 2005 at 11:21 pm


    First, I want to thank you for the suggestions. I would love to have a script that would show the current bid/ask next to the tender offer, but I do not subscribe to any data sources and I’m not aware of any public data sources that I would be allow to pull the data from. Second, I am not familiar with writing scripts and I’m not aware of any free scripts that can pull bid and ask prices. If you have any ideas to help or if you can directly help add this function, please let me know.

    I will try to address your second comment. I will add a notes field that I will add any info that I come across regarding the risk that the transaction might be canceled.

    I want to also thank you for double checking my work. I really appreciate it.

    I looked into CIBI on the SEC website. I noticed a listing for a definitive proxy, but the link only points to a press release. I have not been able to find a definitive proxy. If you have a copy, please post a link to it here.

    I also checked on McRae Industries (MRI-A) to determine whether or not having shares in a brokerage account (street name) would currently prevent one from getting cash in this proposed going private transaction. I copied the following statement from the preliminary proxy statement filed on June 10:

    Q: What if I hold shares in street name?

    A: We will offer to treat stockholders holding common stock in “street name” through a nominee (such as a bank or broker) in substantially the same manner as stockholders whose shares are registered in their names. Brokers, banks or other nominees may have different procedures, however, and stockholders holding common stock in street name should contact their broker, bank or nominee regarding the treatment of their shares.

    Considering the above statement, I’m going to leave the entry above for McRae Industries as is.

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