Originally Posted by sllevin
NW sold its common holdings but retains one preferred share of stock which carries gives it first right refusal on any change of control at CO.
Steve
There has been a lot of discussion on this. Someone with a legal background read the relevant documents and was of the opinion that NW could block anything that required a CO shareholder vote. This meant, in his opinion, either a takeover of CO, or CO taking over another carrier, or a merger. All of these would be major enough to require a shareholder vote.