Attention, those of you who own Walgreens Boots Alliance, Inc. (WBA): WBA is being acquired by Sycamore Partners Management, L.P. The acquisition will include a buyout of $11.45 per share for all outstanding shares of WBA.
Because of this acquisition, you should sell your shares of WBA and transmogrify on Trade Day, if necessary. If the average cost of your shares of WBA 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, if you are taking full advantage of all the recordkeeping services included with CoPilot, 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.
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 three orders to complete the transmogrification process:
- Sell your existing WBA shares
- Buy the same amount of shares for your new stock that you previously owned in WBA.
- Sell to Open a put at the top of the lower band to replace the purchase for the current month if you don’t own 10x your Level
Once this is complete please notify us and we will adjust your AutoPilot account so that it can suggest the appropriate call option orders.
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.
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