Does anyone know the process for tendering Citrix shares? SEC rules generally require companies to send notices within one week of a tender offer. For most investors, your broker should send the information, but I haven't received anything yet. Would anyone know?
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Good point. With the Enterprise software market carnage with fast growing and innovative companies tanking couple with Citrix no growth/no innovation and death sprial, this stock would be in the 70s best case without the Vista takeover offer.
They probably wish they could get out of the deal given the Nasdaq and many software companies are down 20-40% since the announcement. Vista probably thought they were getting a firesale but doesn't look that way now given opportunity cost of where they could have invested in place of Citrix.
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If the deal falls through the stock will likely fall back below $80. There is a reason the stock price is not pegged at $104 right now. There is a risk to waiting.
If you want to sell your shares, you can do so in the open market freely without a tender. For this, you can go through your broker (most likely Fidelity) and just place a market order. However, if you do that, you'll sell for what Citrix is trading at, which is ~$100/share. That would not be a good move because if you wait until the summer when the merger is supposed to close, you'll get $104/share. If you do so, your shares will automatically convert to cash and be sitting in your brokerage account.
Haven't heard anything about a tender offer