Selmax,
If you want to takeover CER you have to grab CNP first!
If you want to vote on resolutions at the agm for CNP you need CNP shares eg debt for equity swap not popular with some at all!
If debt for equity swap does not go ahead for some reason more upside in CNP then CER.
Swap has been abscent since around March - or around the time Orbis finished most of its buying....
Blastoff