I think this picture describes how I feel about the transaction!
I have a few accounts that have a few shares in each account. They were picked up over time with a dividend reinvestment in order to start building a position. At $60.00 or more a share, quite a lot of dividends were needed to buy those shares. My kids have 1 share each and so on and so forth. However, today, I got an email saying it will cost each account a $25.00 reorganization fee. Wow! Seems like the company ought to be responsible for that fee since they are taking my shares- I am not just getting rid of them. I have no choice. I guess the best method will be to sell the share or shares and pay the trade since it will save almost $18.00 in each account. The little guy never wins when it comes to business deals. There is always a catch or some kind of small print that burns the average guy. So, this kind of puts me off on the building a position with very small purchases. I had some reservations to buying the single shares, but I figured over time they might have a whole bunch of shares. Guess I should have gone with the KMI as the original purchase. All of that considered still doesn’t come close to the tax issues I am going to have with the conversion or sale my bigger position of KMP that I have been having for a few years now. With the reduced cost basis, it is going to be something I did not plan on having to deal with. My plan was to just let it pass to my kids when I passed on eventually. I guess that was a waste of time to plan for. The best part is that the major number of shares is held in 2 open accounts ( one for each kid in the future) with an equal number of shares in each and each account has to pay a fee. Talk about a raw deal. When I heard about the reorganization, I knew I should have sold when the stock popped that first day or so. However, I did not know the whole story and really still don’t know everything that is going on. I do know that if you do not own KMI already, the deal will not be as spectacular for the little shareholder as it was first set out. So does anyone have this same issue? How do you feel about it?