IB: MRBK after merger still on account

Discussion in 'Retail Brokers' started by torel, Mar 5, 2007.

  1. torel


    I bought some MRBK before market close on previous friday, before it has been merged into PNC after close.

    Because of the completed merger there exists no MRBK symbol any longer, previous MRBK owners should now hold PNC instead.

    The problem is that I still hold MRBK shares on my IB account, which I can not sell.

    Is this a failure of IB? How long does it take for them to replace MRBK with PNC?

    any help greatly appreciated,
  2. It totally depends on when the transfer agent gives IB the merger consideration. Sometimes it is one day. Other times it takes a week or more (usually in between).
  3. It was completed today and will be processed tonight.
  4. torel


    Thank you guys!