Hi,
At the end of December, 2003 the merger of GM Cl -H(GMH) and
News Corp(NWS.A) was completed. Owners of GMH received both
shares of Hughes Electronics Corp. (HS) and News Corp
(NWS.A) as well as cash in lieu on both new stocks. Does
anybody know how to account fot this in Bivio.
Thanks,
Paul Allen

Paul Allen wrote:
> At the end of December, 2003 the merger of GM Cl -H(GMH) and
> News Corp(NWS.A) was completed. Owners of GMH received both
> shares of Hughes Electronics Corp. (HS) and News Corp
> (NWS.A) as well as cash in lieu on both new stocks. Does
> anybody know how to account fot this in Bivio.
 
For each GMH share, you would receive 0.8232 shares HS and 0.0921
shares NWSA. Using the opening quotes for HS and NWSA on 12/23/03, the
GMH basis would be split 82.5484% and 17.4516% between them.
 
To record the transaction in bivio, first record a spin-off for the HS
shares:
 
ticker: GMH
spin-off ticker: HS
date: 12/23/2003
shares: <total shares received>
remaining basis: 17.4516
cash: <cash-in-lieu>
 
Then record a merger of GMH into NWSA:
 
ticker: GMH
acquiring ticker: NWSA
date: 12/23/2003
shares: <total shares received>
cash: <cash-in-lieu>
 
More information about the transaction can be found here:
http://biz.yahoo.com/e/031223/gm8-k.html
 
Paul Moeller
bivio, Inc.

Thanks Paul. This only works if you enter each transaction
on a different day. Otherwise, you have remaining shares of
GMH.

Paul Moeller wrote:
> Paul Allen wrote:
> > At the end of December, 2003 the merger of GM Cl -H(GMH) and
> > News Corp(NWS.A) was completed. Owners of GMH received both
> > shares of Hughes Electronics Corp. (HS) and News Corp
> > (NWS.A) as well as cash in lieu on both new stocks. Does
> > anybody know how to account fot this in Bivio.
>
> For each GMH share, you would receive 0.8232 shares HS and 0.0921
> shares NWSA. Using the opening quotes for HS and NWSA on 12/23/03, the
> GMH basis would be split 82.5484% and 17.4516% between them.
>
> To record the transaction in bivio, first record a spin-off for the HS
> shares:
>
> ticker: GMH
> spin-off ticker: HS
> date: 12/23/2003
> shares: <total shares received>
> remaining basis: 17.4516
> cash: <cash-in-lieu>
>
> Then record a merger of GMH into NWSA:
>
> ticker: GMH
> acquiring ticker: NWSA
> date: 12/23/2003
> shares: <total shares received>
> cash: <cash-in-lieu>

Paul Moeller wrote:
> For each GMH share, you would receive 0.8232 shares HS and 0.0921
> shares NWSA. Using the opening quotes for HS and NWSA on 12/23/03, the
> GMH basis would be split 82.5484% and 17.4516% between them.
 
It was pointed out to me that this transaction has a taxable portion,
so the advise above was incorrect.
 
As an example, let's say you owned 50 shares GMH, received 41.16
shares HS and 4.6 shares NWSA, and cash in lieu for $2.69 HS and
$18.66 NWSA. The NWSA share value on 12/29/03 was $29.01.
 
* first record a merger of the 50 shares GMH into 50 shares HS
 
* record a sale of 8.84 shares HS (50 - 41.16), for $133.45 (4.6 x 29.01)
 
* record a buy 4.6 shares NWSA, cost $133.45
 
* record a sale 0.16 shares HS, $2.69
 
* record a sale 0.6 shares NWSA, $18.66
 
Paul Moeller
bivio, Inc.