Tender offer timing

[beerbaron]

Anybody has an answer to this question:

 

Let's say a tender offer expires on July 10th and I buy shares on July 9th can I tender my shares or will I run into settle date issues?

 

Regards

BeerBaron

[ragnarisapirate]

speaking of settle dates, don't those seem a bit antiquated now? It seems as if this sort of thing could be instantaneous if the powers at be really wanted to...

[beerbaron]

I don't know, SEC seem to say it takes 3 days to settle...

 

BeerBaron

[oddballstocks]

My experience with this is brokers won't tender the same day you purchase, but will tender the next day.  So if you buy on the 9th and tender on the 10th you should be ok.

[Liberty]

I don't know the answer, but calling your broker is probably the best way to be sure since different brokers might have different rules (unless the SEC is very clear about this and things are applied uniformly).

[Hielko]

It also depends on the detail of the tender offer. Some only accept settled shares, other also accept a notice of guaranteed delivery.