Friday, June 14, 2019
Equity Corporate Actions Alert #2019 - 115
Nasdaq updates merger notification process
Category:
Markets Impacted:Contact Information:
|
This Equity Corporate Action Alert describes the process Nasdaq will use for halting an issue that is subject to a pending merger and for communicating information about pending mergers. Effective Monday, June 17, 2019, when a company subject to a pending merger expects the merger to be effective prior to market open on any given day, the company’s securities will be halted at 8:00 pm the prior day, following the after-hours session. If the merger closes as planned, the security will remain halted and will be suspended the following day. If the merger does NOT close as expected, the security will be released for trading the following day. In addition, Nasdaq has updated the Equity Corporate Action Alert format to include additional information, including a field to indicate the “Anticipated Last Trading Date”. Following is an example of this new Equity Corporate Action Alert format: At a special meeting held on January 24, 2019, the shareholders of ABC, Inc. (ABCD) approved a merger with XYZ, Inc. (XYZ). The merger is tentatively scheduled to close prior to the market open on January 29, 2019. In anticipation of the closing, the stock will be halted immediately following the after-hours session at 8 p.m. on January 28, 2019. If the merger closes as planned, the stock will remain halted on the day of closing (January 29th) and will be suspended effective January 30, 2019. The details are as follows:
|
---|
Email Alert Subscriptions:
Nasdaq offers customers the ability to self select news delivery across various Nasdaq markets. Create and maintain a profile for updating alert preferences and contact information. Visit the enrollment form on the Nasdaq Trader website and sign up today! Please note that if you choose to unsubscribe from an email list, you may no longer receive potentially critical emails from the NASDAQ Stock Market regarding Nasdaq's trading and data products, regulatory issues or marketplace initiatives. To unsubscribe, also click on the enrollment form
Please follow Nasdaq on Facebook RSS and Twitter.
Nasdaq (Nasdaq: NDAQ) is a leading global provider of trading, clearing, exchange technology, listing, information and public company services. Through its diverse portfolio of solutions, Nasdaq enables customers to plan, optimize and execute their business vision with confidence, using proven technologies that provide transparency and insight for navigating today's global capital markets. As the creator of the world's first electronic stock market, its technology powers more than 90 marketplaces in 50 countries, and 1 in 10 of the world's securities transactions. Nasdaq is home to approximately 3,900 total listings with a market value of approximately $13 trillion. To learn more, visit: business.nasdaq.com.