MMM/NEOG split-off ofeer

Ok, but you can tender only 99 shares and keep the oddlot priority. So if you’ve already submitted 100, then you may want to change it to 99 ASAP.


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Well, that was typo. I bought only 98. I am good. I used the initial conversion to short 700. Hence I covered based on the final ratio.

BTW, thanks for bringing this. Appreciate it.

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It was the best of times, it was the worst of times…

And both for me.

In the acount (E*Trade) where I was able to borrow (sell short) shares of NEOG, this worked spectacularly. In the other, where I could not (Fidelity), I am down ~$750. I am thinking about holding NEOG, presuming the other short term investors are dumping their shares, adding to the downward pressure.

A good bet it was, so thanks, Jim! But a bet is still a bet.


Literally if I had waited one more day to execute that MMM-NEOG trade, I would have made $2,000, but instead I broke even. The pricing quickly diverged, but locking in the price of NEOG through the short really helped. I’ve done well on split-offs before, so this recent result is unfortunate.



for future, I am trying to understand, I have accounts with IBKR, E*Trade, BAC/ML, Schwab. So potentially I could have done 4x trades?

BTW, as I posted upthread for me it worked nicely, quick $1417, for the shorted shares I paid about $12 borrow fee.

No, they count by SSN, so you can do it once per SSN. So you could do yours, a wife, a kid, etc, but when you try to double- or triple-dip, they’ll see it and prorate it.