Husky Energy Inc. cumulative redeemable preferred T.HSE.PR.B

RE:Preferred Shares - Vote No

[RagingBull3]

Thank you Number13.    Yes, seems very similar situation.     Even holding Husky as a separate company I view as still a violation of the Terms.   Cenovus will be "running" the show, not Husky. 

All just my opinion.... Thanks again.   I need help thinking...as to what I should do.

Number13 wrote:
Again, I will defer to James Hymas, Canadian preferred share expert. Vote no. Husky cannot be wound up or merged without the approval of pref shares holders. We want our $25 (or closer to it).

The same thing happened when Lowe's bought Rona, and Lowe's eventually came to terms with the pref sharesholders (offered them $24 which the pref shareholders agreed to). Until that happened, Rona couldn't properly merge with Lowe's and had to hold all it's assets as a separate subsidiary company. Holding Husky as a separte company is not what Cenovus intends to do.

See link:
https://financialpost.com/news/fp-street/injustice-for-my-fund-holders-fidelity-explains-its-compromise-decision-to-sell-rona-preferred-shares

Also, for James Hymas' comments see:
https://prefblog.com/?p=41503#comments