If the merger had been with a Canadian company there would be no deemed disposition but a US based company trigerred a tax issue. This cost me money and I think is an unfair tax consequence for a merger where no stock is sold but this is a government tax issue and nothing to do with the company. Typical poor tax policy and a money grab against the very people who provide capital to markets for job creation and functioning of the economy. I don't mind paying when I sell but hate being screwed by government on what I consider a long term investment where I has no intention of selling.

My reaction was to buy more all the way down which is exactly what I did as I am sure this caused some selling by longer term shareholders so bargains were available.