Please help me understand the Mellon Bank of NY merger?I have stock that I purchased from mellon when I was employed there a few years ago. wasn't really into it just did it because the option was there I have shares of what I thought was penny stock I was getting dividend checks in the amount of $15.00 I am now trying to figure out has the stock gone up and what... |
I don't entirely understand your question. I think you are saying that you bought employee stock of Mellon, so you hold Mellon shares. Mellon Bank was never a penny stock. Did you put your shares in a brokerage account? Because if you did, your broker would have notified you of the merger economics and once the merger was completed, will automatically exchange the shares of Mellon into the new Bank of New York Mellon shares.
If not, you have to put your shares in a brokerage account and have them exchanged. Or, you can contact Mellon Investor Services as Exchange Agent for the merger. They will exchange the shares for you.
Below is a link to the information:
http://www.bnymellon.com/investorrelatio...
Each share of Mellon common stock converted into one share of The Bank of New York Mellon common stock. The ticker is BK. The shares are trading at $44.97 per share right now.
