Attention, those of you who own Nordstrom Inc. (JWN): JWN is being taken private by the Nordstrom family and El Puerto de Liverpool. The buyout will include a payment of $24.25 per share for all outstanding shares of JWN. Because of this privatization, you should sell your shares of JWN on Trade Day and Transmogrify if necessary. If the average cost of your shares of JWN is at or below the current market price, there is no need to transmogrify.
We’re here to help! Here is a link to the Transmogrification document that will tell you step-by-step what to do.
CoPilot clients: Please use this link to access the transmogrification document for your accounts. Also, please give us a call after you have purchased shares for your new position and before you sell your options; we will need to make some adjustments to your account to properly reflect the transmogrification.
Lattco AutoPilot clients: At this time, trading screens for Transmogrification are not included in the AutoPilot system. You will need to log into TradeStation to place two orders to complete the Transmogrification process:
- Sell your existing shares of JWN
- Buy the same amount of shares for your new stock that you previously owned of JWN
Once this is complete please notify us and we will adjust your AutoPilot account so that it can suggest the appropriate trades.
If you have any questions, please don’t hesitate to contact us at support@snideradvisors.com or 1-888-6-SNIDER. We’ll be happy to walk you through the process.