Attention, those of you who own Cameron International Corporation (CAM): CAM has been acquired by Schlumberger Limited (SLB); for complete details on the merger, please use this link. The acquisition will involve the receipt of 0.716 shares of SLB and a cash payment of $14.44 for every share of CAM currently owned. Because of this merger, you should transmogrify your CAM position as soon as possible after September expiration.
When the transition is finalized, you will see your CAM shares replaced with SLB shares in your brokerage account. You should then sell your shares of SLB (or CAM, if the transition has not yet been completed) and Transmogrify if necessary. If you are able to sell your shares above your average cost, 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.
LattcoPRO/AutoPilot clients: Please reference this revised version of the Transmogrification document for your account. Also, please give us a call after you have purchased shares for your new position and before your sell your options; we will need to make some adjustments to your account to properly reflect the transmogrification.
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.
