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Alias Born | 02/05/2014 |
Monday, June 22, 2015 8:51:29 AM
It does not have to be that way. I was holding MetroPCS in an E-Trade account then they did the merger with T-Mobile, and the merger involved a split. For one day, the ticker was frozen while the old shares were tabulated and new shares were redistributed. The new shares were available to everyone, including E-Trade customers, at opening bell the next day.
So, it is possible for fair dealings to happen during a split. However, the share issuing corporation (in this case, Strategic Global Investments, Inc.) wants current shareholders to get wiped out as much as possible else they would not allow the split to happen in the manner that they are.
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