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Millenium cash tender offer
Hello,
Can anyone educate me about a cash tender offer? I have shares of Millenium Pharmaceuticals and Takeda has offered to buy it up at 25 dollars a share in a cash tender offer. I received a notification in the mail that I need to call my brokerage to accept the cash tender offer by May 8th. What would happen if I did not accept the cash tender offer? What risks are involved? My friend who also owns shares says he wants to hold on to them until next year to avoid short term capital gains. What are the ramifications of this? Thanks.
-Dan
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