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Scientific gaming is to acquire bally and will will pay $83.30 in cash per Bally common share. The shares are currently trading at around $78 from previous days close of around $60. I am not in immediate need of money, so I am just holding on to my Bally shares and not selling them yet. Am I correct in assuming that if I don't sell my shares, I will be paid $83.3 when the deal is closed. If so will the shares be automatically encashed?

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Yes, you're correct and yes they will. Note that it will be considered as "sale" with gains being taxable income to you.

  • Good way to save on commission too? – Mark Monforti Aug 1 '14 at 19:27
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    @MarkMonforti Actually, a commission for such a transaction may be higher than for a regular sale. – littleadv Aug 1 '14 at 19:28

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