1. Home
  2. Financial Planning
  3. AT&T Wireless AWE stock is it of any value (2023 Update)

AT&T Wireless AWE stock is it of any value (2023 Update)

Stocks were found in dads safe deposit box are these of any value? I can't seem to find any info on them. thanks in advance jeff

Reply to
Digger
Loading thread data ...

AWE stock is the ticker symbol for AT&T Wireless which was a publicly traded company that was acquired by AT&T in 2005. If the stock certificates you found are for AT&T Wireless and they were issued before the company was acquired, they may have value. However, determining the value of the stock would depend on a number of factors.

First, you would need to check if the shares are still valid and if the company is still in existence. In this case, AT&T Wireless is no longer a publicly traded company, the shares are no longer valid, and the company no longer exists as a separate entity.

In most cases, when a company is acquired, the shares of the acquired company are exchanged for shares of the acquiring company. In this case, the shareholders of AWE would have received shares of AT&T in exchange for their AWE shares.

It's also worth noting that in some cases, when a company is acquired and the shares are exchanged, the acquiring company may offer cash or other forms of consideration in addition to or in lieu of stock. This information can usually be found in the press releases or SEC filings of the companies involved in the acquisition.

In conclusion, the AT&T Wireless stock certificates you found are no longer valid and don't have any value as the company was acquired by AT&T and no longer exists as a separate entity. It's recommended that you check the press releases and SEC filings of the companies involved in the acquisition to see if there was any cash or other forms of consideration offered to the shareholders of AWE.

Reply to
Smart Bean

Yes, they should. There were several steps here. Your father probably got AWE in a 2001 spin-off of AWE from the AT&T parent company. Then AWE was acquired in October 2004 for $15/share, in a cash merger with Cingular wireless. Cingular was majority-owned by SBC, which...later merged with AT&T, and renamed itself AT&T.

[So in a way you're back to Square One, only with a few hundred million bucks paid out to investment bankers, lawyers and company execs along the way for all that "shareholder value" they created!]

But the point is, AT&T is the company you want to ask about this because they're the successor to the company that bought AWE out in October

2004. Call up their Investor Relations department, or perhaps look around on the IR part of the AT&T web site -- dig around at
formatting link
You may be able to tender your shares now, or perhaps the proceeds are sitting with your father's home state's "unclaimed property" authority. If you call AT&T you should be able to get an answer. The AT&T web site should also have information about figuring out your cost basis in these shares, if that is something you need to know.

-Tad

Reply to
Tad Borek

Check with AT&T shareholder relations.

Reply to
dapperdobbs

AT&T Wireless (AWE) merged with Cingular in 2004. Per the terms of the merger AWE stock ceased to trade. Shareholders of AWE were supposed to exchange AWE stock certificates for cash, following a procedure, and receive $15 a share. For more info, go to

formatting link
, click on "Shareholder Services," read that site and also click on the FAQ link. Since obviously your dad did not send the certificates in, as described in the FAQ, then I would start by calling the toll free number listed in the FAQ and ask them how to proceed. Should that number be out of service, scour the "Investor Relations" section of the Cingular site for a toll free number, and ask if you can still exchange the certificates.

For the archives, googling for well-chosen keywords often turns up the answer to questions about seemingly defunct companies.

Reply to
Elle

this response is only nne years late, but I think AT&T would have paid your dad $15/ share CASH for the stock, if you took no action. That is what AT&T did for me.

see also

formatting link

Reply to
Juan

replying to Juan, saxman wrote: I have a recent, similar situation. My dad passed away, and now my mom has also, so I've been going through ALL of the stock statements, etc. for every stock they owned. I came across some correspondence showing 38 shares of ATT Wireless. The last correspondence was around 2003. I called my ATT broker and they told me that ATT Wireless cashed out any remaining stocks held by stockholders (and sent checks to shareholders of ATT Wireless) if stockholders took no action before the deadline. If, say, checks were sent out and the shareholder never cashed them, the money would have ended up in the state "treasury" for unclaimed property. You can go on line and search the database (typing in name of the relative and any other info needed) and see if any left money resides (this happens a lot when people don't bother cashing in rebate checks). After my dad passed away I did a search on my dad and found that he never cashed in NCR stocks (or never received a check for the stocks...check lost in mail or whatever) and was able to claim a few hundred bucks for my mom.

Reply to
saxman

BeanSmart website is not affiliated with any of the manufacturers or service providers discussed here. All logos and trade names are the property of their respective owners.