cer after split, page-21

Rich,
When I said CER holders buy out CNP it is meant to read buy out the CNP interest in CER. The CER shares that CNP own will definitely be SOLD. They will not be GIFTED to CNP holders. They may be offered to CNP holders at a price. They will be cashed in by CNP somewhere along the line to reduce debt. The benefit to CNP holders will be in the reduction of that debt.

One of the reasons for separation will be to make CER saleable for CNP.