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 Post subject: Northern foods merger. What happens now?
 Post Posted: Wed Nov 17, 2010 10:29 am 
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Hi all,

I have a question. If you've read the news this morning you may be aware that Northern foods is merging with Greencore to become a new company called Essenta Foods. I am currently long northern foods, and the price has shot up over 10 points so far today. ;)

The question I have is what happens now? Will my spread bet automatically trade out when the new company is formed? Will I be traded into the new company? I have no idea what my spread betting firm (CMC markets) do in this situation.

Has anyone else experienced a similar situation? If so what happened.

Thanks in advance.

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Harry,
The Spread betting beginner


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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Thu Nov 18, 2010 12:03 pm 
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Since the numbers are still pretty low here on the forum I've decided to ask the same question over on the spread betting cenral forum.

If I get an answer I'll post areply here in my own words. Or you can just view the forum topic over on spread betting central

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Harry,
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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Fri Nov 19, 2010 8:12 pm 
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Did you get a reply from your betting company yet?

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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Sat Nov 20, 2010 1:16 pm 
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Not yet, as soon as I know more I'll let you know.

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Harry,
The Spread betting beginner


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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Tue Nov 23, 2010 12:45 pm 
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Just though I'd let you all know that I still haven't had a reply from CMC markets yet. I have to say it's not a good reflection on their customer service. I've sent three e-mails so far asking for a response and I have yet to receive any aknowledgement from them that they've even recieved my e-mails.

When I finally get a response I'll let you know what the outcome is.

All the best with your spread betting.

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May the markets be with you!

Harry,
The Spread betting beginner


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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Thu Dec 16, 2010 4:42 pm 
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Finally I had an answer from CMC regarding this question.

Answer: "The position will be closed out on the day the merger takes place. If I want to open a position in the newly merged company I will have to do this manually."

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Harry,
The Spread betting beginner


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 Post subject: Re: Northern foods merger. What happens now?
 Post Posted: Wed Feb 09, 2011 3:44 pm 
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cmc - taking their time.....nothing changed there lol


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