02/21/2022 – Xilinx, Inc. (XLNX)

  by Robert Brauer

Attention, those of you who own Xilinx, Inc. (XLNX): XLNX has been acquired by Advanced Micro Devices, Inc. (AMD). The acquisition was concluded on 2/14/2022 and includes an exchange of 1.7234 shares of AMD for every outstanding share of XLNX. Because of this acquisition, you should sell your shares of AMD and transmogrify if necessary.

When selling your AMD shares, you will need to take the following steps:

  1. After selling AMD, take the net proceeds from the sale and divide it by the number of shares you previously owned of XLNX. This will help you determine the price that XLNX was effectively sold for.
  2. If the price you calculated in step #1 is lower than your average cost for XLNX, you will proceed with the transmogrification, and use the price from step #1 as your Price of Old Stock for your transmogrification search. If the price calculated in step #1 is above your average cost for XLNX, 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.

SPECIAL NOTE: Lattco PRO and Lattco AutoPilot accounts will likely display an analyzer error after downloading the activity for the removal of AMD. If this is the case, please contact us, and we will correct the error and close out the AMD position.

Lattco PRO clientsPlease 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 Ally to place three orders to complete the Transmogrification process:

  1. Sell your existing shares of AMD and determine if you need to transmogrify, as instructed above
  2. Buy the same amount of shares for your new stock that you previously owned of XLNX prior to the acquisition

Once this is complete please notify us and we will adjust your AutoPilot account so that it can suggest the appropriate trades for your new position.

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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