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Stock conversion, CELG to BMS

Discussion in 'Celgene' started by anonymous, Jun 5, 2019 at 11:27 AM.

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  1. anonymous

    anonymous Guest

    When does the CELG stock convert to BMS stock.
    what happens to CELG stock given to employees as options that are underwater.
     
  2. anonymous

    anonymous Guest

    look on your e-trade account it covers the conversion rates.
     
  3. anonymous

    anonymous Guest

    All in the F.A.Q.
     
  4. anonymous

    anonymous Guest

    Thanks! When will this actually convert and go into effect? There’s no closing date and will happen over night.
     
  5. anonymous

    anonymous Guest

    They asked that today in the town hall and he said the day the deal closes it will convert immediately
     
  6. anonymous

    anonymous Guest

    But for teh options we dont owne it, many optiosn are in $100 and 120 and $130 range, how will they get converted
     
  7. anonymous

    anonymous Guest

    I asked my DM about this and they said if under water they are useless
     
  8. anonymous

    anonymous Guest

    Wrong. They’re converted at the underwater rate (%) in BMS stock. So yeah - worthless but ya still get “something”
     
  9. anonymous

    anonymous Guest

    Yeah well, my manager is a cranky bitch. so all I got was “they are useless”
     
  10. anonymous

    anonymous Guest

    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
     
  11. anonymous

    anonymous Guest

    How do they convert it, The options are to buy CELG stock at a certain priuce
     
  12. anonymous

    anonymous Guest

    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.
     
  13. anonymous

    anonymous Guest

    What is happening to the stock? Both companies share prices plummeting and can’t seem to hold value. Makes no sense for CELG stock.