Wondering what do do? Convert now? Convert later? Wait for Mandatory Conversion date?

Assuming you have read:

http://www.merck.com/newsroom/news-relea...

and the PDF "Notice to Holders of 6% Mandatory Convertible etc., etc." Link to that is also available at -

http://www.merck.com/investors/home.html

Many variable factors (shares held, fees paid to brokers for tendering, plans to reinvest or not the dividends from MRK, etc.) BUT, all of those distill to this:

If MRK price exceeds a price of approximately 33.50 to 33.80 (depending on aforementioned variables) on/before the Mandatory Conversion Date, then SGP-B (now MRK-B)holders, by my calculations (disagreement welcomed), would come out ahead if convert NOW under the terms of the "Make-Whole conversion" offering.

So, weigh your desire for cash/MRK share now as opposed to later and your best guesss as to future price for MRK.

If decide to convert now, remember that only have until 5pm 19 November. Do NOT wait for your broker to contact you.

Hope this helps (rather than confusing the already murky matter even more).