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

RE:RE:Legal Cases of Preferreds Winning, Similar to what Husky's

[RagingBull3]

RagingBull3 wrote: Worth Repeating:  

RagingBull3 wrote: Preferreds might be facing IMHO.   Thanks again Husky4000, Number13, Autofucus111.      

From Husky4000:

"You can read that: https://canlii.ca/t/g146m"


From Number13:

"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"


And I think great advice from Autofucus111:

"RagingB I advise not to exercise dissent rights. You will have to surrender your shares in exchange for the right to receive 'fair value' and you will automatically join the dissenting group and will have to wait out a court process to determine what the fair value is. I tried this once just out of curiosity with BIM.T when MT bought out the company. Got lots of court documents and updates, but almost a decade later the matter has still not been setttled, and I have yet to receive any payment for the shares I surrendered. Those who instead tendered shares got the buyout proceeds, then years later participated in a class action that ran through the courts and was settled last year and got an additional payment. Dissenting is a painful process with no obvious victory, as the company lawyers will drag it out in the courts for years, leaving you stuck with no money in the meantime. Oh, and if you do want to speed things up, you have to organize with other dissenters and pay lawyers to move the case forward and make arguments as to what fair value is."