Current Price –CBS $58.45, ETM $11.20

Offer Price – $1.08 stock of ETM for $1 stock of CBS (subject to upper limit of 5.7466 ETM shares per share of CBS)

Upside – 8% or $470 for Odd Lot holders

Expiration date – November 16, 2017

This is a standard split-off transaction of which I have already posted quite a few. The most recent ones were PG/COTY and LMT/LDOS split-offs. CBS also had another split-off back in 2014. I recommend reading through those and examining share price