When does the CELG stock convert to BMS stock. what happens to CELG stock given to employees as options that are underwater.
Thanks! When will this actually convert and go into effect? There’s no closing date and will happen over night.
They asked that today in the town hall and he said the day the deal closes it will convert immediately
But for teh options we dont owne it, many optiosn are in $100 and 120 and $130 range, how will they get converted
Wrong. They’re converted at the underwater rate (%) in BMS stock. So yeah - worthless but ya still get “something”
But how can it be since we dont own teh CELG stock The general deal is poeple "who own" CELG stocjk with get one BMS plus $50. Technically CELG Options the employees wont own, unless one is crazy to buy a $95 CELG stock for $120 or $130 options price (or what ever price he /she was offered) which means thye are losing $$ right off the back
This is just my educated guess, but: BMY is selling for $46.75 as of close today. Celgene is selling at $96.04. Percent difference between CELG and BMY is 48.68%. So if your CELG option strike price is $120-$130 today, you'll be converted to a strike price of $58.42-$63.28 for a BMS option.
What is happening to the stock? Both companies share prices plummeting and can’t seem to hold value. Makes no sense for CELG stock.