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am i understanding this correctly, if i have shares on the day they announce, i will get $50+ PER SHARE added into my account (when the pay out date arrives)?
Take a few minutes to read my previous posts.
Why are people holding onto this? If the share price is valued at $51. Is there something I’m missing? I am a long been holding since $36 but I can’t see any reason to hold.
Interesting read that may work, but every time I've tried something like that I've gotten burnt.
Altaba: Cash Shell Offering Double-Digit Annualized Return (9/05/19)
https://seekingalpha.com/article/4290011-altaba-cash-shell-offering-double-digit-annualized-return
I am not the author, but we are thinking alike.
And then there will be more than one post-dissolution liquidating distribution.
NAV per share was $74.15 at 6/30/19.
There are some tax issues that need to be resolved. Liabilities may be too conservative (overstated), so I am taking the "over".
Not my first liquidation.
Altaba Announces Pre-Dissolution Liquidating Distribution of $51.50 Per Share (9/06/19)
NEW YORK--(BUSINESS WIRE)--Altaba Inc. (“Altaba” or the “Fund”) (NASDAQ: AABA) today announced that, on September 5, 2019, the Board of Directors (the “Board”) of the Fund declared a pre-dissolution liquidating distribution of $51.50 in cash per share of its common stock, par value $0.001 per share (the “Shares”), which will be paid on September 23, 2019 to stockholders of record as of September 16, 2019 (the “Pre-Dissolution Liquidating Distribution”). The Fund expects that the ex-dividend date for such distribution will be September 24, 2019, the day after the payment date for the Pre-Dissolution Liquidating Distribution.
As previously announced, stockholders of the Fund approved the liquidation and dissolution of the Fund pursuant to a Plan of Complete Liquidation and Dissolution (the “Plan”) at a special meeting of stockholders held on June 27, 2019. Promptly following payment of the Pre-Dissolution Liquidating Distribution, the Fund intends to file a certificate of dissolution (the “Certificate of Dissolution”) with the Secretary of State of the State of Delaware to dissolve the Fund. The Fund will issue a press release not less than five business days before filing the Certificate of Dissolution to announce (i) that the Board has determined to proceed with the liquidation and dissolution of the Fund and (ii) the anticipated filing date of the Certificate of Dissolution.
Thomas J. McInerney, Chief Executive Officer of the Fund, said, “This distribution represents a major milestone in our plan to liquidate and dissolve. A significant amount of work and judgment went into the determination of the distribution amount and, while not necessarily by design, it is in the middle of the range outlined in the proxy statement we filed with the U.S. Securities and Exchange Commission (the “SEC”) on May 17, 2019, as supplemented on June 7, 2019. Our work to resolve actual and potential liabilities has made significant progress overall, but much remains to be done. Our principal assumptions, plans and expected outcomes, while still subject to risk and uncertainty, remain generally unchanged. We continue to be convinced that this plan is the right course for stockholders.”
Further information regarding the liquidation and dissolution of the Fund and the amount and timing of any post-dissolution liquidating distributions to stockholders, will be provided in subsequent press releases or filings with the SEC as such information becomes available.
About Altaba
Altaba is an independent, publicly traded, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund’s assets primarily consist of a mix of cash and marketable securities.
Prior to June 16, 2017, Altaba was known as “Yahoo! Inc.” Altaba was created from Yahoo! Inc. after the sale of its operating businesses, at which time Yahoo! Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA.
Visit www.altaba.com for more information.
https://www.businesswire.com/news/home/20190906005129/en/Altaba-Announces-Pre-Dissolution-Liquidating-Distribution-51.50-Share
[From the Department of Corrections]
The Fund continues to hold 5 million Alibaba Shares and currently expects to sell those Alibaba Shares in 2020 for purposes of managing the Fund’s tax liabilities. The Alibaba Shares are currently unhedged but the Fund may elect to hedge those Alibaba Shares in the future. The Fund’s plans with respect to the Alibaba Shares and any related hedging activity may change at the Fund’s discretion.
Cash now represents 98.8 percent of Adjusted NAV.
Altaba Inc. (AABA) - NASDAQ
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for August 16, 2019.
Adjusted NAV per share(3) $93.34
Discount to Adjusted NAV(3) 25.2%
Adjusted NAV(1) $$48,493,606
Cash & marketable securities $47,924,623
Altaba shares outstanding 519,511
Alibaba shares owned 5,000
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
AABA sold 17.457 million BABA shares last week.
Cash and marketable securities per share at 8/09/19 was $86.81.
Altaba Inc. (AABA) - NASDAQ
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for August 9, 2019.
Adjusted NAV per share(3) $93.03
Discount to Adjusted NAV(3) 24.7%
Adjusted NAV(1) $48,328,997
Cash & marketable securities $45,100,364
Altaba shares outstanding 519,511
Alibaba shares owned 22,201
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
Expect BABA shares will be liquidated no later than 8/23/19.
It could happen as early as 8/16/19.
Altaba Inc. (AABA) - NASDAQ
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for August 2, 2019.
Adjusted NAV per share(3) $93.12
Discount to Adjusted NAV(3) 24.9%
Adjusted NAV(1) $48,375,846
Cash & marketable securities $42,294,924
Altaba shares outstanding 519,511
Alibaba shares owned 39,658
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
Altaba Inc. (AABA) - NASDAQ
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for July 26, 2019.
Adjusted NAV per share(3) $94.68
Discount to Adjusted NAV(3) 25.0%
Adjusted NAV(1) $49,189,804
Cash & marketable securities $38,923,521
Altaba shares outstanding 519,511
Alibaba shares owned 59,138
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
Altaba Inc. (AABA) - NASDAQ
$70.26 -0.1 (-0.14%)
Day High $70.72
Day Low $70.22
52-Week High $79.18
52-Week Low $54.81
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for July 19, 2019.
Adjusted NAV per share(3) $93.84
Discount to Adjusted NAV(3) 25.1%
Adjusted NAV(1) $48,751,435
Cash & marketable securities $34,588,069
Altaba shares outstanding 519,511
Alibaba shares owned 83,631
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
ltaba Inc. (AABA) - NASDAQ
$70.27 +0.5 (+0.72%)
Day High $70.59
Day Low $69.93
52-Week High $79.18
52-Week Low $54.81
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for July 12, 2019.
Adjusted NAV per share(3) $92.95
Discount to Adjusted NAV(2) 25.3%
Adjusted NAV(1) $48,287,641
Cash & marketable securities $29,961,819
Altaba shares outstanding 519,511
Alibaba shares owned 110,190
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
Altaba website failed to mention that numbers and dollars were presented in thousands.
Altaba Inc. (AABA) - NASDAQ
$70.26 -0.4 (-0.57%)
Day High $70.45
Day Low $70.04
52-Week High $79.18
52-Week Low $54.81
Adjusted NAV per share and the Discount to Adjusted NAV are as of the close of business for July 5, 2019.
Adjusted NAV per share(3) $94.05
Discount to Adjusted NAV(2) 25.3%
Adjusted NAV(1) $48,858,547
Cash & marketable securities $26,092,496
Altaba shares outstanding 519,511
Alibaba shares owned 133,122
(1) Adjusted NAV consists of net asset value adjusted to exclude deferred tax liabilities on unrealized appreciation and estimated income taxes payable on Alibaba shares sold (such estimates made utilizing assumptions consistent with the Fund's March 31, 2019 financial statements).
(2) Discount to Adjusted NAV reflects the stock price discount relative to the Adjusted NAV.
(3) Adjusted NAV (and the related Discount thereto) is estimated utilizing the methodologies described above. The figures utilize the Fund's most recently published financial statements updated with estimates as of the close of business for the indicated date for: (i) the Altaba share price, (ii) the market value of Alibaba shares held, (iii) cash & marketable securities, (iv) warrant settlements, (v) state tax agreements, and (vi) Altaba shares outstanding. Alibaba shares owned and cash & marketable securities reflect all shares sold, including unsettled shares (and the proceeds related thereto), as of the close of business for the indicated date. Unless otherwise delineated in the foregoing, values have not been updated from the most recently published financial statements.
Altaba Announces Stockholder Approval of Plan of Complete Liquidation and Dissolution (6/27/19)
NEW YORK--(BUSINESS WIRE)--Altaba Inc. (“Altaba” or the “Fund”) (NASDAQ:AABA) today announced that, at the Fund’s special meeting of stockholders (the “Special Meeting”) held earlier today, its stockholders voted to approve the voluntary liquidation and dissolution of the Fund pursuant to the Plan of Complete Liquidation and Dissolution (the “Plan”). The Fund announced on April 2, 2019 that its board of directors (the “Board”) had approved the Plan.
Approval of the liquidation and dissolution of the Fund pursuant to the Plan required the affirmative vote by holders of a majority of the outstanding shares of the Fund’s common stock entitled to vote on the proposal. Approximately 55% of the outstanding shares of the Fund’s common stock as of May 16, 2019, the record date for the Special Meeting, were voted in favor of the proposal. The proposal was approved by approximately 92% of the votes cast at the Special Meeting.
The Fund currently intends to continue its sales of Alibaba Group Holding Limited’s (“Alibaba”) American Depositary Shares (the “Alibaba Shares”) through open market transactions and/or through private dispositions not executed or recorded on a public exchange or quotation service. Through June 26, 2019, Altaba has sold approximately 126.4 million Alibaba Shares, approximately 45% of its stake as of May 17, 2019. The Fund may sell up to 100% of its Alibaba Shares prior to filing a certificate of dissolution with the Secretary of State of the State of Delaware. The Fund has previously disclosed that it intends to sell a minimum number of Alibaba Shares to ensure that it has the liquid assets that the Board estimates will be sufficient for the maximum potential reserves that might be required by the Delaware Court of Chancery to satisfy the Fund’s known, contingent and potential future liabilities.
The Fund expects to continue providing stockholders with weekly updates on the number of Alibaba Shares sold. The updates will be provided on the Altaba.com website in the section titled “Holdings”. The amount, timing and method of Alibaba Share sales, and other related transaction considerations will be determined at the Fund’s discretion, and the plans are subject to change based on prevailing market conditions and other factors.
The Fund currently expects to make a pre-dissolution liquidating distribution late in the third quarter, although this timing is subject to Board discretion and could change. Prior to making such a distribution the Fund will announce the record date and the amount of cash and/or the number of Alibaba Shares to be distributed. Such announcements and further information regarding the liquidation and dissolution of the Fund will be provided in subsequent press releases or filings with the U.S. Securities and Exchange Commission (the “SEC”) as such information becomes available.
About Altaba
Altaba is an independent, publicly traded, non-diversified, closed-end management investment company registered under the Investment Company Act of 1940. The Fund’s assets primarily consist of a mix of cash, marketable securities and a substantial position in Alibaba, which has become one of the world’s largest online retailers.
Prior to June 16, 2017, Altaba was known as “Yahoo! Inc.” Altaba was created from Yahoo! Inc. after the sale of its operating businesses, at which time Yahoo! Inc. reorganized as an investment company, was renamed Altaba Inc., and began trading under the Nasdaq ticker symbol AABA.
Visit www.altaba.com for more information.
https://www.businesswire.com/news/home/20190627005737/en/
SEC - securities law violations and $35 million fine
Excerpt:
18. Based on the foregoing, Yahoo acted negligently in filing materially misleading periodic reports with the Commission. In particular, Yahoo knew, or should have known, that its risk factor disclosures and MD&A in its annual reports on Form 10-K for the fiscal years ended December 31, 2014 and December 31, 2015, and in its quarterly reports on Form 10-Q for the first three quarters of 2015 and the first two quarters of 2016, and its stock purchase agreement with Verizon (which was filed as an exhibit to a current report on Form 8-K), as incorporated into its Form S-8 registration statements, were materially misleading.
https://www.sec.gov/litigation/admin/2018/33-10485.pdf
DIPPING SOME $AABA
Interesting activist proposal - seems they own almost 10%
https://www.altaba.com/secfiling.cfm?filingID=902664-18-1639&CIK=1011006
Recently exited my AAL positions - have been moving gradually into AABA - some at $36ish and more in the $60-70's
Curious on opinions on whether BABA likely to trade in China will impact whether BABA might want to buy AABAs BABA shares.
Anyone have thoughts?
Altaba Inc. (AABA)
76.57 ? 2.41 (3.25%)
Volume: 13,687,136 @ 7:14:55 PM EST ET
Bid Ask Day's Range
76.81 76.96 74.0 - 76.76
AABA Detailed Quote
HAHAHAHAAHAHAHAHAHAHH!!!!!!!!!!!!!!!!!
Nice try bud....looks like we are taking off to the moon
CORRECTION
85 million shares and $6 Billion dollars --WOW
On 11/30 TCI Bought 8.5 million shares of AABA FOR $.6 Billion dollars - they will be taking advantage of the new lower tax rates -yeah
AABA/ Senate Committee Subpoenaed Former Yahoo CEO Marissa Mayer
Date : 11/07/2017 @ 7:32PM
Source : Dow Jones News
Stock : Altaba Inc. (MM) (AABA)
Quote : 72.22 0.51 (0.71%) @ 8:00PM
Senate Committee Subpoenaed Former Yahoo CEO Marissa Mayer
https://ih.advfn.com/p.php?pid=nmona&article=76039820
WASHINGTON -- A Senate committee moved last month to force former Yahoo Chief Executive Marissa Mayer to testify in a hearing Wednesday about corporate data breaches, after she initially declined lawmakers' invitation.
The Senate Commerce Committee's authorization of the subpoena, an unusual move, underscores lawmakers' growing concern over data breaches. It also highlights the potential stakes for Ms. Mayer, once one of the nation's most celebrated CEOs, in testifying about Yahoo's massive data breaches and subsequent stumbles in disclosing them.
The committee authorized its subpoena late last month after Ms. Mayer declined the panel's invitation to testify voluntarily, according to committee aides. A committee spokesman and a representative for Ms. Mayer said Tuesday that she would testify at Wednesday's hearing.
Ms. Mayer's representatives initially told the committee she wasn't the right person to address recent disclosures that a massive 2013 data breach at Yahoo was far worse than initially believed, according to a representative for Ms. Mayer.
Yahoo's new parent company, Verizon Communications Inc., disclosed last month that the breach affected essentially all of the online company's three billion user accounts. Yahoo had previously said about one billion accounts were affected.
Ms. Mayer, who departed Yahoo earlier this year, contended that she had no knowledge about the basis for the most recent disclosure. A representative for Ms. Mayer said she agreed to appear voluntarily after it was confirmed that a witness from Verizon would also be a witness at the hearing,
The recent disclosure concerning Yahoo has added to lawmakers' deepening concerns about how some big companies, including Equifax Inc., are handling issues such as data security and breach disclosures.
Committee Chairman John Thune (R., S.D.) was expected to say in his opening statement Wednesday that "companies that collect and store personal data on American citizens must step up to provide adequate cybersecurity [and] there should be consequences if they fail to do so," according to an excerpt of his prepared remarks.
But new legislation on data breaches appears a long shot this year, given disagreements between the financial, retail and telecommunications sectors.
The recent Yahoo disclosure is also likely to raise tough questions for Ms. Mayer about how Yahoo handled data security and why it didn't initially realize the extent of the breach.
Ms. Mayer, a former executive of Alphabet Inc. unit Google, was brought in to turn around struggling Yahoo in 2012. Her efforts were only partly successful, and much of the company eventually was sold to Verizon, which is intent on building its own online businesses.
The breaches caused Verizon to knock about $350 million off its original price of $4.83 billion for Yahoo. Verizon gave up its right to sue the entity that sold Yahoo, now called Altaba Inc., over any allegations that it covered up the hacks.
Write to John D. McKinnon at john.mckinnon@wsj.com
(END) Dow Jones Newswires
November 07, 2017 19:17 ET (00:17 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
Dead company SELLOFF suddenly less than penny coming
Bankrupted bad management suddenly downward downgraded
Worst company inflated price downgraded Massive SELLOFF with angry class action lawsuits
Bad management too many lawsuits no growth just dowfall
Over inflated price selloff coming too many problems with garbage company
Altaba Inc. (AABA)
63.91 ? -0.25 (-0.39%)
Volume: 2,370,687 @ 2:07:56 PM EDT ET
Bid Ask Day's Range
63.9 63.92 63.835 - 64.76
AABA Detailed Quote
Cheers to that. Here's to breaking 60 by end of week.
It's doing just fine
Stock buy-back plan announced and shares drop by 1.35% after a consistent climbing trend. WTF? Aren't buy backs usually good news? Less shares available the market so PPS should go up. Why the down tick?
Altaba Inc. (AABA)
58.16 ? -0.29 (-0.50%)
Volume: 8,832,362 @ 6:48:45 PM ET
Bid Ask Day's Range
58.01 58.48 57.76 - 58.4
AABA Detailed Quote
Doesn't look like this is relevant any longer as the breakup happened.
Lawsuits posted (https://www.altaba.com/sec.cfm):
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