"Dissenter rights".....$25 ????!!!!!!!! $25/share ???!!!!"The Arrangement is not conditional on Husky Preferred Shareholder approval. However, the exchange of Husky Preferred Shares for Cenovus Preferred Shares under the Arrangement is subject to (1) approval of not less than 66% of the votes cast by Husky Preferred Shareholders' voting together as a single class at the Husky Meeting; and (2) unless otherwise determined by Cenovus in its sole discretion,
holders of not more than 10% of the Husky Preferred Shares having validly exercised, and not withdrawn, dissent rights (collectively, the “Preferred Share Condition”). If the Preferred Share Condition is not satisfied prior to the effective time of the Arrangement, the Husky Preferred Shares will not be acquired by Cenovus pursuant to the Plan of Arrangement, will remain outstanding in a subsidiary of Cenovus following Closing, and will remain listed for trading on the TSX. If issued, the Cenovus Preferred Shares are expected to be listed on the TSX."
https://www.investopedia.com/terms/d/dissenters-rights.asp#:~:text=Dissenters%27%20Rights.%20Under%20various%20forms%20of%20state%20legislation%2C,acquisition%20to%20which%20the%20shareholders%20do%20not%20consent.
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Under various forms of state legislation, dissenting shareholders of a corporation are entitled to receive a cash payment for the fair value of their shares, in the event of a share-for-share merger or acquisition (M&A) to which the shareholders do not consent. Dissenters' rights allow dissenting shareholders an easy way out of the company if they do not want to be a part of the merger."
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