I agree, it will be interesting to see who the purchaser or...

I agree, it will be interesting to see who the purchaser or purchasers of the CN's were.

You would if a holder of one want it to go as low as possible and then start rising again before converting to take advantage of the 20% discount 15 day VWAP.

if one holder they will effectively control CLZ when voting if they hold over 50% SOI.

When converted they will dilute shareholders SP even more and if not converted they will be a liability as they can still be redeemed at face value at expiry.

IMO a LOSE situation in either case for shareholders.