Dividendo 3M septiembre... de que va esto?

Siguiendo os sabios consejos del foro (sí, ya sé que no debería fiarme del foro 🙂, pillé unas 3M hará un par de meses.

Hoy me ha llegado un mail de ING con las opciones del dividendo, pero con ese inglés tan técnico y tanto acrónimo de jerga bolsera que no entiendo, no sé bien de que va la cosa, creo entender que es cajear derechos por acciones de Garden Spinco que no sé lo que es...

Alguien sabe de qué va esto?
El texto abajo.... (no pongo todo porque es un pequeño ladrillo)


+++UPDATE FOR EUROCLEAR HOLDERS WITHIN ICSD ONLY: UPDATE 16 AUG 2022: EVENT DETAILS UPDATED. THE REQUIREMENT TO COMPLETE THE SECTION ENTITLED ODD-LOT SHARES ON THE LETTER OF TRANSMITTAL APPLIES ONLY TO HOLDERS OF PHYSICAL SHARES.

OPTION 1: TO EXCHANGEINTO SHARES FOR ODD LOT ONLY, INSTRUCT BY DEADLINE 31 AUGUST 2022 AT 15:00 UK TIME
OPTION 2: TO EXCHANGE INTO SHARES, INSTRUCT BY DEADLINE 31 AUGUST 2022 AT 15:00 UK TIME.

OPTION 3: TAKE NO ACTION (DEFAULT) IT IS THE CLIENT RESPONSIBILITY TO COMPLY WITH THE ELECTION REQUIREMENTS AS STIPULATED IN THE TERMS AND CONDITIONS OF THE EVENT. CITI CANNOT BE HELD LIABLE IF THOSE REQUIREMENTS ARE NOT MET. FOR POSITIONS ON LOAN, WE REQUIRE YOUR INSTRUCTION 24 HOURS PRIOR TO STATED REPLY BY DATE AND TIME.

CLIENTS WHO INSTRUCT BY UNSTRUCTURED MEANS (IE FAX, MT599 ETC) ARE ADVISED TO CONTACT THEIR CSR TO CONFIRM RECEIPT. IF YOU WISH TO TAKE NOAC ON THIS EVENT WE STILL REQUIRE AN INSTRUCTION TO CONFIRM YOUR INTENTIONS. SEPARATE INSTRUCTION PER BENEFICIAL OWNER (BO) REQUIRED.

REVOCABILITY INSTRUCTIONS MAY BE WITHDRAWN PURSUANT TO THE OFFER DOCUMENTATION AND UPON AGENTS FINAL AGREEMENT MINIMUM TO EXERCISE: 1 MULTIPLE TO EXERCISE: 1 END OF UPDATE FOR EUROCLEAR HOLDERS WITHIN ICSD ONLY+++ 11 AUG 2022 UPD EVENTDETAILS FINALIZED. END UPD.

A SEPARATE INSTRUCTION MUST BE SUBMITTED ON BEHALF OF EACH ELECTING BENEFICIAL HOLDER. THE OFFER IS SUBJECT TO PRORATION.

3M IS OFFERING TO EXCHANGE ALL SHARES OF GARDEN SPINCO COMMON STOCK THAT ARE OWNED BY 3M FOR OUTSTANDING SHARES OF 3M COMMON STOCK (AND WILL BE CONVERTED INTO SHARES OF COMMON STOCK OF NEOGEN CORPORATION), AT AN EXCHANGE RATIO TO BE CALCULATED IN THE MANNER DESCRIBED IN THE OFFER TO EXCHANGE PROSPECTUS, UPON TERMS AND SUBJECT TO THE CONDITIONS AND LIMITATIONS.

3M CURRENTLY EXPECTS THAT APPROXIMATELY 108.3 MILLION SHARES OF GARDEN SPINCO COMMON STOCK WILL BE AVAILABLE IN THIS EXCHANGE OFFER.

No es un dividendo , es un spinoff.

3m coge toda la guano y la etiqueta como garden spimco y te da la opción de cambiar tus 3m por ellas.

Por supuesto , lo lógico es no hacer nada

O sea, sigues los consejos del foro (que sabiamente dices que no hay que seguir) y cuando sale un marrón vienes a pedir más consejos al foro?

Endovelico dijo:

No es un dividendo , es un spinoff.

3m coge toda la guano y la etiqueta como garden spimco y te da la opción de cambiar tus 3m por ellas.

Por supuesto , lo lógico es no hacer nada

Hacer clic para expandir...

Aha, no sabía ni que existía eso del spin off en bolsa, gracias por la aclaración.
Buscando más información, esto dice google, como que en el futuro suele ser beneficioso:

El impacto de un spin off
Esta operación puede resultar beneficiosa para los inversores si se tiene en cuenta el rendimiento de la inversión que proporciona a los accionistas. Sin embargo, en las fases iniciales, el efecto suele ser negativo para los inversores, que pueden ver disminuir el patrimonio invertido en la compañía. Pero, a largo plazo es una operación que puede resultar beneficiosa, especialmente si la nueva compañía lo hace bien.

Slurms MacKenzie dijo:

O sea, sigues los consejos del foro (que sabiamente dices que no hay que seguir) y cuando sale un marrón vienes a pedir más consejos al foro?

Hacer clic para expandir...

No veo que sea ningún marrón, solo trato de informarme con algún forero que como Endovelico me ha resuelto la duda en 2 lineas.

Lo de seguir los consejos del foro, lo decía medio en coña, hay que escuchar a los más sabios, como feministo y algún otro forero, y ya luego obrar como uno crea adecuado, separando grano de una manola, que es dinero es de cada uno..

Quiere separar la unidad de healthcare para poner un cortafuegos a demandas que tiene de unos tapones para los oidos.

Mas o menos como Bayer y Monsanto pero al reves. En vez de quedarse el pardo lo echa fuera.

Mocap dijo:

(no pongo todo porque es un pequeño ladrillo)

Hacer clic para expandir...

Ponlo todo, que tengo curiosidad.

qbit dijo:

Ponlo todo, que tengo curiosidad.

Hacer clic para expandir...

Por petición, pongo el taxto completo que recibí

+++UPDATE FOR EUROCLEAR HOLDERS WITHIN ICSD ONLY: UPDATE 16 AUG 2022: EVENT DETAILS UPDATED. THE REQUIREMENT TO COMPLETE THE SECTION ENTITLED ODD-LOT SHARES ON THE LETTER OF TRANSMITTAL APPLIES ONLY TO HOLDERS OF PHYSICAL SHARES.

OPTION 1: TO EXCHANGE INTO SHARES FOR ODD LOT ONLY, INSTRUCT BY DEADLINE 31 AUGUST 2022 AT 15:00 UK TIME
OPTION 2: TO EXCHANGE INTO SHARES, INSTRUCT BY DEADLINE 31 AUGUST 2022 AT 15:00 UK TIME.

OPTION 3: TAKE NO ACTION (DEFAULT) IT IS THE CLIENT RESPONSIBILITY TO COMPLY WITH THE ELECTION REQUIREMENTS AS STIPULATED IN THE TERMS AND CONDITIONS OF THE EVENT. CITI CANNOT BE HELD LIABLE IF THOSE REQUIREMENTS ARE NOT MET. FOR POSITIONS ON LOAN, WE REQUIRE YOUR INSTRUCTION 24 HOURS PRIOR TO STATED REPLY BY DATE AND TIME.

CLIENTS WHO INSTRUCT BY UNSTRUCTURED MEANS (IE FAX, MT599 ETC) ARE ADVISED TO CONTACT THEIR CSR TO CONFIRM RECEIPT. IF YOU WISH TO TAKE NOAC ON THIS EVENT WE STILL REQUIRE AN INSTRUCTION TO CONFIRM YOUR INTENTIONS. SEPARATE INSTRUCTION PER BENEFICIAL OWNER (BO) REQUIRED.

REVOCABILITY INSTRUCTIONS MAY BE WITHDRAWN PURSUANT TO THE OFFER DOCUMENTATION AND UPON AGENTS FINAL AGREEMENT MINIMUM TO EXERCISE: 1 MULTIPLE TO EXERCISE: 1 END OF UPDATE FOR EUROCLEAR HOLDERS WITHIN ICSD ONLY+++ 11 AUG 2022 UPD EVENTDETAILS FINALIZED. END UPD.

A SEPARATE INSTRUCTION MUST BE SUBMITTED ON BEHALF OF EACH ELECTING BENEFICIAL HOLDER. THE OFFER IS SUBJECT TO PRORATION.

3M IS OFFERING TO EXCHANGE ALL SHARES OF GARDEN SPINCO COMMON STOCK THAT ARE OWNED BY 3M FOR OUTSTANDING SHARES OF 3M COMMON STOCK (AND WILL BE CONVERTED INTO SHARES OF COMMON STOCK OF NEOGEN CORPORATION), AT AN EXCHANGE RATIO TO BE CALCULATED IN THE MANNER DESCRIBED IN THE OFFER TO EXCHANGE PROSPECTUS, UPON TERMS AND SUBJECT TO THE CONDITIONS AND LIMITATIONS.

3M CURRENTLY EXPECTS THAT APPROXIMATELY 108.3 MILLION SHARES OF GARDEN SPINCO COMMON STOCK WILL BE AVAILABLE IN THIS EXCHANGE OFFER.

THE NUMBER OF SHARES OF 3M COMMON STOCK THAT WILL BE ACCEPTED FOR EXCHANGE IF THIS EXCHANGE OFFER IS COMPLETED WILLDEPEND ON THE FINAL EXCHANGE RATIO, THE NUMBER OF SHARES OF GARDEN SPINCO COMMON STOCK OFFERED AND THE NUMBER OF SHARES OF 3M COMMON STOCK TENDERED.

ODD LOT ANY BENEFICIAL OF FEWER THAN 100 SHARES OF 3M COMMON STOCK WHO WISHES TO TENDER ALL OF SUCH BENEFICIAL HOLDERS SHARES OF 3M COMMON STOCK IN THIS EXCHANGE OFFER SHOULD SUBMIT ODD LOT INSTRUCTIONS (OPTION 1), WHICH WILL NOT BE SUBJECT TO PRORATION IF THIS EXCHANGE OFFER IS OVERSUBSCRIBED.

BENEFICIAL HOLDERS OF 100 OR MORE SHARES OF 3M COMMON STOCK ARE NOT ELIGIBLE FOR THIS PREFERENCE. HOLDERS MAY TENDER ALL, SOME OR NONE OF A HOLDERS SHARES OF 3M COMMON STOCK.

FOR EACH SHARE OF 3M COMMON STOCK THAT A HOLDER VALIDLY TENDERS IN THISENSTHI OFFER AND DOES NOT PROPERLY WITHDRAW AND THAT IS ACCEPTED FOR EXCHANGE, THE HOLDER WILL RECEIVE A NUMBER OF SHARES OF GARDEN SPINCO COMMON STOCK AT A 7 PCT DISCOUNT TO THE PER SHARE VALUE OF NEOGEN COMMON STOCK, CALCULATED AS SET FORTH IN THE OFFER TO EXCHANGE PROSPECTUS, SUBJECT TO AN UPPER LIMIT OF 7.3515 SHARESOF GARDEN SPINCO COMMON STOCK PER SHARE OF 3M COMMON STOCK.

STATED ANOTHER WAY, SUBJECT TO THE UPPER LIMIT DESCRIBED BELOW, FOR EACH USD 100 OF A HOLDERS 3M COMMON STOCK ACCEPTED FOR EXCHANGE IN THIS EXCHANGE OFFER, THE HOLDER WILL RECEIVE APPROXIMATELYUSD 107. 53 OF GARDEN SPINCO COMMON STOCK. THE FINAL CALCULATED PER SHARE VALUE AND PER SHARE VALUE, AS APPLICABLE, WILL BE EQUAL TO: 1.

WITH RESPECT TO 3M COMMON STOCK, THE SIMPLE ARITHMETIC AVERAGE OF THE DAILY VWAP OF 3M COMMON STOCK ON THE NYSE FOREACH OF THE VALUATION DATES, AS REPORTED BY BLOOMBERG L.P. THROUGH THE PRICE AND VOLUME DASHBOARD FOR MMM UN(EQUITY) AQR. 2.

WITH RESPECT TO GARDEN SPINCO COMMON STOCK, THE SIMPLE ARITHMETIC AVERAGE OF THE DAILY VWAP OF NEOGEN COMMON STOCK ON NASDAQ FOREACH OF THE VALUATION DATES, AS REPORTED BY BLOOMBERG L. P. THROUGH THE PRICE AND VOLUME DASHBOARD FOR NEOG UW(EQUITY) AQR. THE DAILY VWAP PROVIDED BY BLOOMBERG L.P.

MAY BE DIFFERENT FROM OTHER SOURCES OF VOLUME WEIGHTED AVERAGE PRICES OR INVESTORS OR SECURITY HOLDERS OWN CALCULATIONS OF VOLUME WEIGHTED AVERAGE PRICES. 3M WILL DETERMINE SUCH CALCULATIONS OF THE PER SHARE VALUE OF 3M COMMON STOCK AND THE PER SHARE VALUE OF GARDEN SPINCO COMMON STOCK, AND SUCH DETERMINATION WILL BE FINAL.

IF THE UPPER LIMIT ON THE NUMBER OF SHARES OF GARDEN SPINCO COMMON STOCK THAT CAN BE RECEIVED FOR EACH SHARE OF 3M COMMON STOCK TENDERED AND ACCEPTED FOR EXCHANGE IS IN EFFECT, THEN THE EXCHANGE RATIO WILL BE FIXED AT THE LIMIT.

UPPER LIMIT: THE NUMBER OF SHARES OF GARDEN SPINCO COMMON STOCK A HOLDER CAN RECEIVE IN THIS EXCHANGE OFFER IS SUBJECT TO AN UPPER LIMIT OF 7. 3515 SHARES OF GARDEN SPINCO COMMON STOCK FOR EACH SHARE OF 3M COMMON STOCK ACCEPTED FOR EXCHANGE IN THIS EXCHANGE OFFER.

IF THE UPPER LIMIT IS IN EFFECT,A STOCKHOLDER WILL RECEIVE LESS (AND COULD RECEIVE MUCH LESS) THAN USD 107.53 OF GARDEN SPINCO COMMON STOCK FOR EACH USD 100 OF 3M COMMON STOCK THAT THE STOCKHOLDER VALIDLY TENDERS, THAT IS NOT PROPERLY WITHDRAWN AND THAT IS ACCEPTED FOR EXCHANGE IN THISENSTHI OFFER.

THIS UPPER LIMIT WAS CALCULATED BASED ON A 12 PCT DISCOUNT FOR SHARES OF GARDEN SPINCO COMMON STOCK BASED ON THE CLOSING PRICE OF 3M COMMON STOCK ON THE NYSE AND NEOGEN COMMON STOCK ON THE NASDAQ, IN EACH CASE ON AUGUST 3, 2022, THE TRADING DAY IMMEDIATELY PRECEDING THE COMMENCEMENT OF THE EXCHANGE OFFER.

PRICING MECHANISM: THE TERMS OF THIS EXCHANGE OFFER ARE DESIGNED TO RESULT IN HOLDERS RECEIVING USD 107.53 OF GARDEN SPINCO COMMON STOCK FOR EACH USD 100 OF 3M COMMON STOCK VALIDLY TENDERED, NOT PROPERLY WITHDRAWN AND ACCEPTED FOR EXCHANGE IN THIS EXCHANGE OFFER BASED ON THE CALCULATED PER SHARE VALUES DESCRIBED ABOVE.

THIS EXCHANGE OFFER DOES NOT PROVIDE FOR A MINIMUM EXCHANGE RATIO BECAUSE A MINIMUM EXCHANGE RATIO COULD RESULT IN THE SHARES OF GARDEN SPINCO COMMON STOCK EXCHANGED FOR EACH USD 100 OF 3M COMMON STOCK BEING VALUED HIGHER THAN APPROXIMATELY USD 107.53.

REFER TO THE PROSPECTUS FOR THE COMPLETE DESCRIPTION AND TERMS OF THE NEW SECURITIES TO BE RECEIVED IN THIS CORPORATE ACTION EVENT.

PRORATION IF, UPON THE EXPIRATION OF THIS EXCHANGE OFFER, 3M STOCKHOLDERS HAVE VALIDLY TENDERED AND NOT PROPERLY WITHDRAWN MORE SHARES OF 3M COMMON STOCK THAN 3M IS ABLE TO ACCEPT FOR EXCHANGE (TAKING INTO ACCOUNT THE EXCHANGE RATIO AND THETOTAL NUMBER OF SHARES OF GARDEN SPINCO COMMON STOCK OWNED BY 3M), 3M WILL ACCEPT FOR EXCHANGE THE 3M COMMON STOCK VALIDLY TENDERED AND NOT PROPERLY WITHDRAWN BY EACH TENDERING STOCKHOLDER ON A PRO ARDILLA BASIS, BASED ON THE PROPORTION THAT THE TOTAL NUMBEROF SHARES OF 3M COMMON STOCK TO BE ACCEPTED FOR EXCHANGE BEARS TO THE TOTAL NUMBER OF SHARES OF 3M COMMON STOCK VALIDLY TENDERED AND NOT PROPERLY WITHDRAWN (ROUNDED TO THE NEAREST WHOLE NUMBER OF SHARES OF 3M COMMON STOCK), AND SUBJECT TO ANY ADJUSTMENTNECESSARY TO ENSURE THE EXCHANGE OF ALL SHARES OF GARDEN SPINCO COMMON STOCK BEING OFFERED BY 3M IN THIS EXCHANGE OFFER, EXCEPT FOR TENDERS OF ODD LOTS.

UPON THE CONSUMMATION OF THIS EXCHANGE OFFER, 3M WILL DELIVER TO THE DISTRIBUTION EXCHANGE AGENT A BOOK ENTRY AUTHORIZATION REPRESENTING (A) ALL OF THE SHARES OFGARDEN SPINCO COMMON STOCK BEING EXCHANGED IN THIS EXCHANGE OFFER, WITH INSTRUCTIONS TO HOLD THOSE SHARES OF GARDEN SPINCO COMMON STOCK AS AGENT FOR THE HOLDERS OF SHARES OF 3M COMMON STOCK VALIDLY TENDERED, NOT PROPERLY WITHDRAWN AND ACCEPTED FOR EXCHANGE IN THIS EXCHANGE OFFER AND (B) IN THE CASE OF A THE CLEAN UP SPIN OFF, IF ANY, ALL OF THE SHARES OF GARDEN SPINCO COMMON STOCK BEING DISTRIBUTED IN THE CLEAN UP SPIN OFF TO 3M STOCKHOLDERS WHOSE SHARES OF 3M COMMON STOCK REMAIN OUTSTANDING AFTER THE CONSUMMATION OF THIS EXCHANGE OFFER (AS DESCRIBED IN DISTRIBUTION OF GARDEN SPINCO COMMON STOCK REMAINING AFTER THIS EXCHANGE OFFER, OF THE OFFER MATERIAL), WITH INSTRUCTIONS TO HOLD THOSE SHARES OF GARDEN SPINCO COMMON STOCK AS AGENT FOR SUCH 3M STOCKHOLDERS.

PRIOR TO THE EFFECTIVE TIME OF THE MERGER, NEOGEN WILL DEPOSIT WITH THE MERGER EXCHANGE AGENT FOR THE BENEFIT OF PERSONS WHO RECEIVED SHARES OF GARDEN SPINCO COMMON STOCK IN THIS EXCHANGE OFFER (OR IN THE CLEAN UP SPIN OFF, IF APPLICABLE) EVIDENCE IN BOOK-ENTRY FORM REPRESENTING THE SHARES OF NEOGEN COMMON STOCK ISSUABLE IN THE MERGER.

UPON SURRENDER OF THE DOCUMENTS REQUIRED BY THE DISTRIBUTION EXCHANGE AGENT, DULY EXECUTED, EACH FORMER GARDEN SPINCO STOCKHOLDER WILL RECEIVE FROM THE MERGER EXCHANGE AGENT IN EXCHANGE THEREFOR SHARES OF NEOGEN COMMON STOCK BASED ON THE EXCHANGE RATIO AND, IF APPLICABLE, CASH IN LIEU OF ANY FRACTIONAL SHARES OF NEOGEN COMMON STOCK TO WHICH THEY WOULD HAVE OTHERWISE BEEN ENTITLED, IN ACCORDANCE WITH THE MERGER AGREEMENT.

HOLDERS SHOULD REVIEW OFFER TERMS REGARDING PRORATION AND ROUNDING. 3M COMMON STOCK IS LISTED ON THE NYSE UNDER THE SYMBOL MMM. NEOGEN COMMON STOCK IS LISTED ON NASDAQ UNDER THE SYMBOL NEOG.

ON AUGUST 2, 2022, THE LAST REPORTED SALE PRICE OF 3M COMMON STOCK ON THE NYSE WAS USD 141.75 PER SHARE, AND THE LAST REPORTED SALE PRICE OF NEOGEN COMMON STOCK ON NASDAQ WAS USD 22.11 PER SHARE.

IN ORDER TO PARTICIPATE IN THIS CORPORATE ACTION, ACCOUNTS HOLDING SECURITIES IN A PLEDGED POSITION DUE TO AN OPTION CONTRACT ARE REQUIRED TO HAVE THESE PLEDGED SECURITIES RELEASEDINTO A FREE AND CLEAR POSITION PRIOR TO SENDING THE CORPORATE ACTION INSTRUCTIONS AND AT LEAST TWO BUSINESS DAYS PRIOR TO CITIS CUSTODY REPLY BY CUTOFF DATE AND TIME.

CLIENTS LENDING POSITIONS THROUGH CITIS STOCK LENDING PROGRAM ARE REQUIRED TO SEND THEIR INSTRUCTIONS BY 2 BUSINESS DAYS PRIOR TO REPLY BY DATE/TIME. MATERIAL IS AVAILABLE UPON REQUEST. READ MATERIALS FOR COMPLETE TERMS AND CONDITIONS OF THE OFFER (INCLUDING DEDUCTION OF TAXES IF APPLICABLE).

PLEASE SUBMIT YOUR INSTRUCTIONS BY THE REPLY BY TIME/DATE, ELECTING THE OPTION NUMBER AND THE NUMBER OF SHARES FOR WHICH AN ELECTION IS BEING MADE. INSTRUCTIONS RECEIVED AFTER THE CITI RESPONSE DEADLINE DATE AND TIME WILL BE HANDLED ON A REASONABLE ENDEAVORS BASIS AND CANNOT BE GUARANTEED.
INFORMATION PROVIDED IS BASED ON INFORMATION AVAILABLE TO THE CUSTODIAN/CLEARING AGENT. THE CUSTODIAN/CLEARING AGENT DOES NOT WARRANT THAT THE INFORMATION IT HAS RECEIVED IS ACCURATE OR COMPLETE. THE CLIENT MUST REVIEW ALL MATERIALS MADE AVAILABLE BY ANOFFEROR.

YOUR INSTRUCTION TO THE CUSTODIAN/CLEARING AGENT TO PARTICIPATE IN ANY ACTION CONSTITUTES YOUR REPRESENTATION THAT YOU HAVE REVIEWED ALL THE OFFERING MATERIALS AND THAT YOU ARE ELIGIBLE TO PARTICIPATE IN THE ACTION AND COMPLY WITH ANY PARTICIPATION RESTRICTIONS.

Ayer bajó casi un 10%. ¿Fue por el spin-off?

@FeministoDeIzquierdas, por si te interesa esta empresa (que igual ya la tienes y todo ).

ueee3 dijo:

Ayer bajó casi un 10%. ¿Fue por el spin-off?

@FeministoDeIzquierdas, por si te interesa esta empresa (que igual ya la tienes y todo ).

Hacer clic para expandir...

Fue porque bajó todo.

max power dijo:

Quiere separar la unidad de healthcare para poner un cortafuegos a demandas que tiene de unos tapones para los oidos.

Mas o menos como Bayer y Monsanto pero al reves. En vez de quedarse el pardo lo echa fuera.

Hacer clic para expandir...

La poca falta de cultura de Bayer comiéndose el glifosato de Monsanto sin titubear solo es parangonable a la de frau Merkel cargándose las nucleares y eon.

Los boches, disciplinados y metódicos son, pero simple también, un rato largo.