paired shares

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.
References in periodicals archive ?
56% Notes may, at any time prior to the Redemption Date, elect to convert their notes into Paired Shares at $27.
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.
During the fourth quarter, the company repurchased approximately 1 million paired shares for approximately $27 million.
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.
60 Weighted average number of paired shares 188 46 187 44 Weighted average number of paired shares assuming dilution 188 48 192 47
To date, the counterparty to one of the forward transactions, UBS AG, London Branch has sold an aggregate of 754,425 of the 3,250,000 paired shares UBS owned.
The Board of Trustees of the Trust and the Board of Directors of the Corporation also approved an open market stock repurchase program with respect to up to 1,000,000 paired shares of the Trust and Corporation from time to time on the New York Stock Exchange at prices deemed advantageous by the Executive Committees of the Boards of the Trust and Corporation.
the Corporation), announced today that it had terminated the forward equity swap arrangement with affiliates of Merrill Lynch, Lehman Brothers and NationsBank by effectively reacquiring approximately 8 million paired shares (using the Company's average stock price during the third quarter) for approximately $255 million.
5 billion of which are allocated to debt securities and the remaining $500 million allocated to Paired Shares, preferred shares, warrants or debt securities, any of which may be offered by the Trust and the corporation from time to time, in separate series and amounts and at prices and terms to be determined at the time of any such offering.
7% of the outstanding common paired shares of The Meditrust Companies, to increase their ownership to 9.
625 per share subject to adjustment within one year pursuant to a purchase price adjustment mechanism, such adjustment to be made in Meditrust paired shares based on the market price at the time of adjustment.