Share Unbundling - Effect on Warrants

[WernerH]

Hi... I bought into a TBS put warrant a short while ago. Big mistake considering that today they announced intentions to unbundle Ad***** Ingram which caused the share to rise 3% (taking me to a large loss). What is the effect of unbundling on warrants (i.e. does the warrant split and would i get Ad***** Ingram warrants on their issue?) Werner

[SimonPB]

either a split, or an adjustment to the initial warrant that removes the unbundled share. or a basket, so the warrant tracks both.

[WernerH]

In all of those scenarios i am probably betting on the wrong horse... Prices are not likely to drop to their earlier levels unless the unbundling falls through...