06/02/2022 – CDK Global, Inc. (CDK)

  by Robert Brauer

Attention, those of you who own CDK Global, Inc. (CDK): CDK is the target of an acquisition by Brookfield Business Partners. The proposed acquisition includes a buyout of $54.87 per share for all outstanding shares of CDK.

Because of this proposed acquisition, you should sell your shares of CDK and transmogrify on Trade Day, if necessary. If the average cost of your shares of CDK 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.

Lattco PRO 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 Ally to place three orders to complete the
transmogrification process:

  1. Sell your existing CDK shares
  2. Buy the same amount of shares for your new stock that you previously owned in CDK.
  3. 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

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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