This is exactly what struck me when I read the article, and something I never knew before, and haven't seen anyone else address (and I admit I could have missed it in my reading of the certificate of designations): all CO needs to be able to redeem the golden share, is for NW to announce a merger (backed up with a Letter of Agreement) ... even if it doesn't survive regulatory. If that's correct, and not poor reporting, then it's a subtle twist that puts CO in better position than I had previously thought... very interesting.