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Paired Shares

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Paired shares
Stock of two companies under the same management that are sold as one unit with one certificate.

Stapled Stock
Shares of two publicly-traded companies operating under the same management that are traded as if they were one stock. Most of the time, certificates for each stapled stock are printed on the same stock certificate. Stapled stocks are put together usually if one share pays higher dividends while the other has the higher potential for appreciation. Variations on stapled stocks include HOLDRS, which issue stocks in more than two companies as one certificate. Stapled stocks are also called paired shares.

paired shares
Shares of two firms under common management that are sold as a single unit. A single certificate may be issued to represent ownership in both firms. Also called stapled stock.


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2016 paired shares of Santa Anita in a tax-free exchange.
Neither the paired shares nor the Class B shares will be listed or trade on the NYSE at that time.
In the event that a person becomes an "acquiring person," each holder of a right (other than the acquiring person) would be entitled to acquire such number of shares of Series X Junior Participating Cumulative Preferred Stock of Patriot American Hospitality which are approximately equivalent to paired shares of Patriot American Hospitality and Wyndham International having a value of twice the exercise price of the right.
 
 
 
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