I believe for CLR to go private and be bought by Harold Hamm, it must pass a shareholder vote. How does that typically take?
Can we just sit on it while waiting to see what happens? Is it correct to assume if the vote passes, our shares will automatically get sold at the offered price?
Typically a shareholder vote happens but I could not find a date for the vote on the tender offer or the current reports on the SEC's website. If there is a vote it is highly likely to pass. Harold Hamm, with his family, own approximately 83% of the outstanding shares. From what I could find, it looks like they want to get this deal done before year-end.
You can certainly sit on your shares and wait to see what happens. Once the offer has been completed, your shares will be automatically sold and you'll be given $74.28 per share.
I believe for CLR to go private and be bought by Harold Hamm, it must pass a shareholder vote. How does that typically take?
Can we just sit on it while waiting to see what happens? Is it correct to assume if the vote passes, our shares will automatically get sold at the offered price?
Typically a shareholder vote happens but I could not find a date for the vote on the tender offer or the current reports on the SEC's website. If there is a vote it is highly likely to pass. Harold Hamm, with his family, own approximately 83% of the outstanding shares. From what I could find, it looks like they want to get this deal done before year-end.
You can certainly sit on your shares and wait to see what happens. Once the offer has been completed, your shares will be automatically sold and you'll be given $74.28 per share.
You are so right about CLR. I let it go yesterday for just shy of 300% of what I paid. Now to find where the money goes next.
Still holding FCX (red) and DBC/GSP (big green) off the Wenzel portfolio.