"'Market observers believe the oportunistic funds hope to...

"'Market observers believe the oportunistic funds hope to leverage their blocking stake in CER to get a better outcome in the amalgamation.But they could be left without a manager if the headstock lenders call their bluff and put the parent CNP into administration.'"

This may even be a good thing. New management. Look at it this way, the old management of CNP sent them (CNP) towards bankrupsy and threatened to take CER with them. They bled CER for years(think SuperLLC). If the shares are spread over a few investment funds and hedge funds they each will want CER to increase in value just as we do. Not one will be in a position to take advantage of the other.

While I'm not selling out I have reduced my exposure. (I do have a new business that can make better use of some of the capital.)I do believe there is room for growth still with CER