Fannie Mae-No Politics (FNMA)

[FOFreddie]

Thanks Ano

I was thinking that Delaware law would apply and that if the required amount of consenting shareholders agreed with an exchange offer then opposing minority shareholders would have appraisal rights like a typical minority shareholder holdout situation. I guess it is possible that the UST just exercises enough warrants to guarantee the success of an exchange offer or shareholder vote for a proposal recommended by a Special Committee with Ackman's participation.