I own some stocks and I got a packet from my online broker today apparently about some reorganization. The packet’s title is “Offer to Purchase for Cash by The Home Depot Inc” and below that it says “Up to 250 million shares of its common stock at a purchase price not greater than $44 nor less than $39.” I’m also supposed to go to reorgaction.com to accept the offer.
So uhm, what does all of this mean? Why is Home Depot offering to buy my stock back? Investapedia said a reorganization often means the company is going bankrupt.
Either way I only have a tiny amount of money invested in this stock, so I’m not too worried about losing it if any, I’m just curious as to what’s going on!