Skip to main content
No. of Recommendations: 1
Fools,

It looks like my offer price was accepted. E*Trade has already swept the bonds from my account and put a place-marker into the account in their stead. I suppose the funds will show up in a few days.

Here's today's announcement from Dow about the tender: http://www.businesswire.com/news/dow/20110309006086/en/Dow-A...

It appears Dow received an offer for $1.7B of the bonds in the first pool. They were planning on purchasing $400M. They decided to increase their offer to purchase $1.2B. (Only about 1/3rd of the Union Carbide bonds were tendered.) I suspect my ask was near their high price ... not that it would have mattered much in a Dutch auction; but I also suspect they could have satisfied their original $400M with their minimum spread.

- Joel
Print the post  

Announcements

What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.