Post by
RagingBull3 on Nov 05, 2020 9:20am
Preferred Shares are NOT Convertible, they are Cumulative.
Terms don't allow them to be converted into another corporation shares or into shares of a "subsidary" of another company.
Cenovus is buying Husky. As I understand, Husky's common shares will be liquidated/cancelled and shareholders paid Cenovus shares. Effectively Husky is being liquidated, effectively Husky is winding-up it's affairs.
This "subsidary" is basically only because of the Preferreds Shares. Husky effectively winding-up. It's common shares will be canceled.
Terms of the Preferreds entitled them $25 per share.
All just my opinion.
There something seriously wrong here in North America. 6 months before everyone, our "experts" finally decide that wearing masks may help in a pandemic. Canadian Steel is a national security threat to the U.S.A. Oil going negaitive. They can make up a new flu vaccine every year and give it to everyone for Free, but the vaccine for the Covid-19 is going to cost Billions and take the WORLD maybe years (and that's at an accelerated pace).......
OK...Ya.....it all makes complete common sense..... NOT.
Years, Decades of Propoganda BS has made everyone stupid...
All just my opinion.