Pfizer (PFE) spinoff and merge with Mylan

[vento]

Hi, I recently have heard about Pfizer spinning off their off-patent branded drugs and merge it with Mylan to create a new entity Viatris. How will Trading 212 handle this? As if I am not wrong, shareholders will receive shares of Viatris. Are we receiving the shares also?

[Dazza2387]

I’d like to know this too as I’ve only just found out about the spin off.

[HRD]

Hope to get an answer from @trading212 soon!

More information was presented by Pfizer today: https://finance.yahoo.com/news/pfizer-announces-details-issued-ex-130000420.html

[Dazza2387]

This is great, thank you.

[eu42]

Until now, T212 sold distributed shares and returned the cash to the users for similar scenarios such as Siemens - Siemens Energy spinoff.

Siemens Energy spin off shares compensation - Completed

Hello @Wolfgang, We can only distribute the cash equivalent of the shares to be received from such corporate events. Once the spin-off is completed, we sell the distributed shares at the market and pass on the proceeds to the eligible accounts.

The latest answer from mods related to transferring shares to users (from yesterday):

Livongo/Teladoc Merger

Hello @Redwan, Unfortunately, we are not yet able to transfer another stock, from the one you currently own, meaning that the only possible solution would be to provide you with the cash equivalent of the TDOC shares.

[Dazza2387]

Does this mean that once VIATRIS stocks are issued they will automatically be sold and the sale price will be added to our accounts?

I was hoping to have the stock added to my portfolio.

[eu42]

@Dazza2387

Does this mean that once VIATRIS stocks are issued they will automatically be sold and the sale price will be added to our accounts?

Yes, unless they introduce a new feature about this by then.

[vento]

Most likely you’ll receive cash, and if you want the stock, you have to buy them with that cash, but you’ll get fewer shares, as usually, the price goes up.

[Dazza2387]

Thanks. Any idea what the share price will be?

[ealmuina]

@Team212 @David could you please answer this?

[buger29]

I would also prefer to get shares instead of cash.

Info from Seeking Alpha:

• Pfizer stockholders received ~0.124079 shares of Viatris common stock for every one share of Pfizer common stock held as of Nov. 13 and they retain the same number of Pfizer shares they held before the transaction.> Blockquote

https://seekingalpha.com/news/3636507-pfizers-upjohn-spinoff-completes-merger-mylan-to-form-viatris

[jithboy]

I have received Viatris stock in IBKR account. its around $15 per share.

[ealmuina]

@Martin @PeterA any news?

[PeterA]

Each holder of Pfizer, eligible for the spin-off (held position on Pfizer on the 16th of November after market close), will receive the cash equivalent of 0.124079 Viatris shares sold at the market (the sale will be executed today 18.11, briefly after market opening). Proceeds will be distributed to the accounts until the end of today.

Update @ 16:21 GMT
VTRS shares were sold at 16:30:03 @16.41$ and the proceeds were distributed to the eligible accounts - 2.0362 per PFE share.

[HRD]

Thanks, have received my part of the proceeds about half an hour ago.

[Venetia1993]

I was wondering why I got £2.30 from Pfizer’s demerger.

Good to know I got something out of it for simply holding!

[kali]

FWIW I was on the phone with Interactive Investor for the last 20 minutes.

Normally when a corporate action like this takes place you’ll get an automated message detailing what’s going to happen in II. For pfizer we got nothing. And I was talking to corp. actions department and I got the feeling that they had no idea that this distribution happened.

and for those who are interested they told me I’ll receive my shares today or tomorrow latest.

[kali]

so… see the attachment and think twice before complaining oh this action is 1 day late, on a free service like trading 212 while a “premium” service like interactive investor is like: