PC, thanks for that background info.

BTW, the whole exchangeable situation seems to have created complete chaos among brokers and retail shareholders. I have one account (Interactive Brokers) which petitioned me for my decision on common shares or exchangeables last week, and as of this morning my shares are frozen (I had selected common shares, the default, given I am not a Canadian resident). In my other account with a Canadian brokerage, they have not even sent me a message regarding the exchangeables. It seems a lot of retail shareholders either received their election petition late, or not at all.

I am not sure whether this is a mistake from CMM or brokerages. Whatever it is, retail investors have not only felt the injustice of a criminally low bid and effective take-under, but also many got screwed on the execution of the vote and exchangeable petition. It is epic failure on so many levels.