One of our members called to alert me to information she received from a Wells Fargo rep regarding selling her JCI shares they held for her.

Wells Fargo has apparently set August 18th as the last day they would sell JCI shares they hold for their clients. From that day on, all JCI shares they hold will go through the merger sale process. Apparently their concern is to ensure that all sales are cleared prior to the accelerated September 2nd date for completion of the transaction.

If you are following a strategy of holding stock until after the shareholders’ meetings on August 17th, before making your decision to hold or sell the stock, be aware of this kind of limit on your ability to sell the shares. With the Well Fargo policy, there is only one day, the 18th available to sell.

I am not aware of similar limits for shares held by Fidelity, or individuals. It makes sense that they would exist for the same reason as given by the Well Fargo rep. Please pass along any information you may have on this.