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Cendant Carve-up?
So looks like Cendant is being carved into 4 pieces. Where is RCI going to live? No obvious conclusions can be reached from what I read in Wall Street Journal today. Meanwhile, I'm glad I don't own their stock and hope those TUGgers so keen on Cendant got out in time...they just announced a major reverse stock split. Should be a wild ride watching this one!
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"Every gun that is made, every warship launched, every rocket fired signifies, in the final sense, a theft from those who hunger and are not fed and those who are cold and are not clothed."
-- Dwight D. Eisenhower -
RCI goes to WYN (Wyndham). CD now only has Avis and Budget, and it will be 10-1 reserve split to push its price back to $20 range.
Jya-NingJya-Ning -
"Cendant shareholders today will receive one share of Realogy common stock for every four shares of Cendant they own and one share of Wyndham for every five Cendant shares. Cash will be distributed in lieu of fractional shares. The cash distributions will be taxable, but the stock distributions are not, according to Cendant. "Cendant shareholders today will receive one share of Realogy common stock for every four shares of Cendant they own and one share of Wyndham for every five Cendant shares. Cash will be distributed in lieu of fractional shares. The cash distributions will be taxable, but the stock distributions are not, according to Cendant. "Comment
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If you have and hold 100 CD stock at 6/21/06. you will get 20 share WYN (lodge, rental, exchange, timeshare), 25 share H (real estate business), and 100 CD for whatever it worth now (around $1.9). And if you continue hold CD, it will become 10 share worth about around $19.
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