On January 19, 2015 ACE Limited (ACE) completed its acquisition Chubb Corporation (CB). Investors received 0.6019 of ACE common shares and $62.93 in cash per share of Chubb.
The wrinkle in the entering this transaction in PortCenter is that ACE adopted the Chubb name and the company immediately begin trading on the New York Stock Exchange under the symbol “CB” and the name Chubb Limited.
Fortunately for us, the friendly folks at Schwab Performance Technologies were quick to post step by step instructions. I have only a few tips on using their instructions.
- When creating the new CB symbol, be sure to enter the CUSIP H1467J104.
- When breaking the association of CB in the Interface Settings, sort by the “Description” tab so all entries mapped to Chubb are gathered together. Then make sure you delete all of them. If your database is old enough, you’ll likely have some old numerical symbols mapped to Chubb.
- If you have more than one interface (Schwab, Fidelity, Ameritrade, etc), make sure you break the mapping in all of them.
- Check to ensure you have prices for the newly created CB symbol. It’s likely you’ll need to manually enter some prices.
Photo used here under Flickr Creative Commons.