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Thank you for the informative answer. In terms of pricing, I’m getting confused between the low market price that we saw last summer ($40, not $20) at which p

• toast0 4y ago
  > If I own stock but I don’t want to sell, what happens then? Too bad, you can vote on the deal, but the deal happens based on the majority of votes. There are ways you can sue over the price, but it's procedurally difficult to have standing and institutional holders routinely mess it up; you may need to have the shares actually in your name in the books of the company, and must have voted against the corporate action, and it has to be the same shares. Anyway, if you have standing, you can protest that the price wasn't fair, but I can't imagine anyone arguing the price was too low with a straight face. Matt Levine covered some merger price lawsuits some years ago, IIRC Dell was one of the parties, it quickly gets into the ins and outs of Cede and Company and the Depository Trust Company and all sorts of intricate details. Of course, some corporate actions do provide options. A sale of a subsidiary may offer shareholders a share in the acquirer of the subsidiary or cash. In that case, you'd tell your broker what you wanted, and if your choice wasn't oversubscribed, you'd get it. If too many shares picked the option you picked, there's a (random) assignment procedure to handle that.