/biz/ - Business & Finance

feels good to drs

>>56673503
>Cede & co
>really jews?
Yes, really.

>>56500160
>I don't think a true monolith exists in America that can swoop in and slurp everything up in some legal fashion
Read this screencap. Here's a snippet from the beginning of the article.

>Banks Forgot Who Was Supposed to Own Dell Shares

>Here are three stylized facts about stocks:

>1. Nobody owns stock. What you own is an entitlement to stock held for you by your broker. But your broker doesn't own the stock either. What your broker owns is an entitlement to stock held for it by Cede & Co., which is a nominee of the Depository Trust Company, which is a company that is in the business of owning everyone's stock for them. This system sounds convoluted but actually makes it easy to keep track of things: If I sell stock to you, I don't have to courier over a paper share certificate, or call up the company and have it change its shareholder register. Our brokers just change some electronic entries at their DTC accounts and everything is cool.1

>2. If you own stock in a company that gets acquired for cash, you can ask a court to second-guess the merger price and give you the fair value of your stock in cash. A court will "appraise" your stock and order the surviving company in the merger to pay you what it's worth (plus interest), which may be more or less than the deal price. But to get the appraisal, under Delaware law,2 you need to follow some procedures. In particular, you have to demand appraisal in writing from the company before the shareholder vote, you have to vote against the merger (or abstain), and you have to own the stock continuously from the time you demand appraisal until the merger closes.

>3. Every time Fact 1 and Fact 2 interact, the result is invariably nonsense.