Another way to value common stock
is known as the discounted cash flow ("DCF") method.
Trading in Shares of FNF Group Common Stock
Between the Record Date and the Distribution Date
FNB stockholders who made no election will receive 12.6000 shares of Citizens common stock
for each of their shares, plus cash in lieu of any fractional share of Citizens common stock
Companies with only common stock
outstanding have a simple capital structure and should present basic EPS for income from continuing operations and net income on the face of the income statement.
The possible effects are not limited to companies that issue innovative financial instruments like "funny" preferreds or puttable common stock
. Issuers of more traditional instruments like convertible bonds and employee stock options could be affected as well.
Shareholders of 5.4 million shares who elected to receive the dividend in cash were selected in the lottery and will receive USD2.02 per share in cash; holders of 127.8 million shares who made no election, or elected to receive the dividend in cash but were not selected in the lottery, will receive USD0.44 per share in cash and USD1.58 per share in common stock
; holders of 11 million shares who elected to receive the dividend in shares of common stock
will receive USD2.02 per share in common stock
There are currently 84,000 shares of Series C Preferred Stock outstanding, all of which will be converted to Common Stock
on the Mandatory Conversion Date.
This exchange ratio is fixed and will not be adjusted to reflect share price changes of the AC Class A common stock
or GBL Class A common stock
prior to the closing of the exchange offer.
Fractional shares of Valvoline common stock
will not be distributed to Ashland stockholders.
According to the company, it believes that the increased market price of its common stock
that is expected to result following the implementation of the reverse stock split may improve the marketability and liquidity of its common stock
and encourage interest and trading in its common stock
Under the terms of the 19 November 2014 deal, former Capital Pacific shareholders were entitled to receive either USD 16.00 per share in cash or 1.132 shares of Pacific Continental common stock
for each share of Capital Pacific common stock
, or a combination of 40.0% in the form of cash and 60.0% in the form of Pacific Continental common stock
, subject to the proration and allocation procedures set forth in the merger agreement.
Compuware Corporation (NASDAQ: CPWR) said it has determined the final distribution ratio relating to its distribution of all of its 31,384,920 shares of Covisint Corporation (NASDAQ: COVS) common stock
on October 31, 2014, as a pro rata dividend on shares of Compuware common stock
, and on shares of Compuware common stock
deliverable under restricted stock units relating to Compuware common stock