I own alot of shares of AT&T Wireless. Cingular just bought AWE for 41 billion dollars, which equals $15 a share that they will be paying. Last week when the $41B bid went through, stock prices jumped to $14 a sharem, and have since steadily fell to a bit more than $13.50.
My question is what happens to my shares of AWE, does the name get changed to anyhting else? Also, will the sotck price ever go up to $15 because that is what cingular is paying for them, or do they not buy common shares that investors like me could sell? Ive already done pretty well (not by penny standards though) on this one in the past 4 weeks. Should i get out now?

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Originally posted by TimN88:
Sorry to post this here, but this is the only place i'll get an answer.

I own alot of shares of AT&T Wireless. Cingular just bought AWE for 41 billion dollars, which equals $15 a share that they will be paying. Last week when the $41B bid went through, stock prices jumped to $14 a sharem, and have since steadily fell to a bit more than $13.50.
My question is what happens to my shares of AWE, does the name get changed to anyhting else? Also, will the sotck price ever go up to $15 because that is what cingular is paying for them, or do they not buy common shares that investors like me could sell? Ive already done pretty well (not by penny standards though) on this one in the past 4 weeks. Should i get out now?

Thanks in advance. I've never owned shares in a company that has had something like this happen.

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TIM,

NOT TO WORRY. GO TO THE SEC FILING AND IT WILL TELL YOU EXACTLY WHAT THE TERMS OF THE PURCHASE ARE. THE PER SHARE BUY OUT. YOU SHOULD GET A NOTICE ASKING YOU IF YOU WANT TO SELL YOUR SHARES OF AWE @ AT 15.00 OR KEEP YOUR SHARES WHICH WILL BE TRADING UNDER CINGULAR AND THEY WILL GIVE YOU EQAUL VALUE OF CINGULAR SHARES TOTALING 15.00 OF AWE THAT YOU OWN. I HOPE YOU UNDERSTAND THAT...IT WILL WORK OUT WELL FOR YOU IN THE LONG RUN.