Raytheon Technologies - Share conversion

[Fresi]

Hello fellow Traders/Investors,

does anybody know when the share conversion from Raytheon Co to Raytheon Technologies due to the merger with United will happen?
Is there anything that needs to be done from a shareholder perspective?
 

Thanks!

[ArieP]

I'm on the same boat... Have the Raytheon  stocks and can't trade them - Raytheon Technologies the new entity is trading already so I hope they havent just suspended our shares... 

[ArieP]

Let me know if you find out please. thanks 

[Guest Alucard]

it is **** weird. RTX has started trading they can easily adjust based on the share ratio. Anyone heard from them yet? i just emailed them

[Fresi]

https://investors.rtx.com/static-files/72417fe4-a1ea-41a1-9f38-63ac04082ec5

"As a result of a subsidiary of United Technologies Corporation (“UTC”) merging with and into Raytheon Company (“Raytheon” and, such transaction, the “Merger”), all shares of Raytheon common stock have been canceled and converted into the right to receive 2.3348 shares of UTC common stock, plus cash in lieu of fractional shares (collectively, the “Merger Consideration”)."

I think this point is quite clear and would assume it's just a technical thing, but would be happy to hear from anybody who was in a similar situation before.

[RoryD]

I bought at $88 on April 2nd, and got diluted, I am now wondering if I get anything. IG shouldnt have allowed purchase at that level.

[ArieP]

Have any of you guys heard from IG yet on this? Have you called them? 

[Fresi]

No, have not heard anything yet regarding my mail and no chance to reach anybody on their help phone.

However I found the article below related to the situation, which is what I would have expected:

https://www.ig.com/uk/help-and-support/spread-betting-and-cfds/market-details/what-happens-to-my-shares-position-if-the-company-is-involved-in

"IG will attempt to accept the offer when it is declared wholly unconditional in all respects. The original position will be closed, and a new position will be opened to reflect the terms of the takeover, based on the previous night’s closing price. Any stops or limits will be adjusted accordingly."

[Fresi]

So I finally did get through on the help phone (0800 409 6789) and was told that the conversion is handled automatically and there is no action needed from a shareholder point of view.

Apparently the conversion process is already ongoing and it should be reflected in your portfolio rather sooner than later, as of now I still got the old "Raytheon Co" in.

Please share if anybody already got a response too or even the newly converted stock.

[ArieP]

Great thank you Fresi, we will wait patiently then

[Fresi]

Hi all,

I see the change now in the positions tab, also I can see the transfer in the history section (not sure if it was there before already) so now it's only about the cash in lieu left.

Best