Well I was wrong unfortunately. I thought FAR were in with a chance.
Good news for CNE though. They can spin their % off in to a holding co sell the shares in said holding co and avoid PE rights.
Should be able to secure a premium by removing the PE right threat from WPL.
All management and board should be considering their positions IMO.
Seems COP were completely wrong and WPL's legal advice spot on.
Interesting the ICC said they didn't have the power to judge on COP issuing a PE rights notice.
I'm very disappointed but have always in the back of my mind what a fail would mean.
Looks pretty cheap atm for those with the stomach for it.
Ann: Arbitration Decision, page-42
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