Labcorp Holdings (LH) - Stock exchanged in name change - how to record? (edit)
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Windows Quicken Deluxe desktop.
On 5/27/2024, LABORATORY CORP AMER HLDGS NEW shares were exchanged for LABORATORY CP AMER HLDGS NEW. One to one exchange.
How is this recorded in Quicken? After the download from the broker, Quicken created 2 placeholders, one for the missing shares and one for the new shares. Should I record this as a corporate name change and delete the placeholders, or some other way?
Thank you.
Best Answer
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This came from the New York Stock Exchange:
___________________________________________________________
NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED
SECURITIES
The New York Stock Exchange hereby notifies the SEC of its intention to
remove the entire class of the stated securities from listing and
registration on the Exchange at the opening of business on May 31, 2024,
pursuant to the provisions of Rule 12d2-2 (a).
[ X ] 17 CFR 240.12d2-2(a)(3) That on May 17, 2024 the instruments
representing the securities comprising the entire class of this security
came to evidence, by operation of law or otherwise, other securities in
substitution therefore and represent no other right except, if such be
the fact, the right to receive an immediate cash payment.
Pursuant to the formation of a holding company which became effective on
May 17, 2024, each share of Common Stock of Laboratory Corporation of
America Holdings (Old) was deemed to represent one (1) share of
Laboratory Corporation of America Holdings
(New) Common Stock on a share for share basis.
This form is only for the removal from listing on the Exchange of the
Common Stock of Laboratory Corporation of America Holdings (Old) and not
a termination of the registration of the Common Stock of Laboratory
Corporation of America Holdings (New) under Section 12(b) of the
Exchange Act.
The Exchange also notifies the Securities and Exchange Commission that
as a result of the above indicated conditions Laboratory Corporation of
America Holdings (Old) was suspended from trading before market open on
May 20, 2024.___________________________________________________________
It does seem to be nothing more than a name change, but I'm not entirely sure. I can't find any indication that the CUSIP has changed.
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Answers
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I'd simply change the name of your prior holding.
And, from LabCorp's website:
Today Labcorp announced that it intends to implement a new holding company structure on May 17, 2024. The name of the new holding company will be Labcorp Holdings Inc. The new parent company will replace Laboratory Corporation of America Holdings as the publicly-traded entity and Laboratory Corporation of America Holdings will become a wholly owned subsidiary of Labcorp Holdings Inc. The new parent's name is more closely aligned with the brand name, and the company will have a structure that is optimized to reflect the company's operations. Common stock will continue to trade on the NYSE on an uninterrupted basis under the existing symbol "LH" and Laboratory Corporation of America stockholders will automatically become stockholders of Labcorp Holdings Inc. on a one-for-one basis with all of the same rights.
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
This came from the New York Stock Exchange:
___________________________________________________________
NOTIFICATION OF THE REMOVAL FROM LISTING AND REGISTRATION OF THE STATED
SECURITIES
The New York Stock Exchange hereby notifies the SEC of its intention to
remove the entire class of the stated securities from listing and
registration on the Exchange at the opening of business on May 31, 2024,
pursuant to the provisions of Rule 12d2-2 (a).
[ X ] 17 CFR 240.12d2-2(a)(3) That on May 17, 2024 the instruments
representing the securities comprising the entire class of this security
came to evidence, by operation of law or otherwise, other securities in
substitution therefore and represent no other right except, if such be
the fact, the right to receive an immediate cash payment.
Pursuant to the formation of a holding company which became effective on
May 17, 2024, each share of Common Stock of Laboratory Corporation of
America Holdings (Old) was deemed to represent one (1) share of
Laboratory Corporation of America Holdings
(New) Common Stock on a share for share basis.
This form is only for the removal from listing on the Exchange of the
Common Stock of Laboratory Corporation of America Holdings (Old) and not
a termination of the registration of the Common Stock of Laboratory
Corporation of America Holdings (New) under Section 12(b) of the
Exchange Act.
The Exchange also notifies the Securities and Exchange Commission that
as a result of the above indicated conditions Laboratory Corporation of
America Holdings (Old) was suspended from trading before market open on
May 20, 2024.___________________________________________________________
It does seem to be nothing more than a name change, but I'm not entirely sure. I can't find any indication that the CUSIP has changed.
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Thank you both. You both gave me the same answer but I could only mark one as "answered".
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just curious -
what were the 2 stock symbols involved- or was it just a "name change" ?0 -
@Ps56k2 According to their website, it was a name change only … ticker was and remains LH
Q user since February, 1990. DOS Version 4
Now running Quicken Windows Subscription, Business & Personal
Retired "Certified Information Systems Auditor" & Bank Audit VP0 -
what were the 2 stock symbols involved
as identified in NotACPA’s post above, the symbol did not change; it remains as LH.
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