Fannie Mae-No Politics (FNMA)

[kthomp19]

Could the SPS be converted to common without a shareholder vote?

Yes. It would happen before the end of conservatorship, meaning only FHFA and Treasury would have to agree.

Would Delaware and Virginia law apply?

No, because the succession clause in HERA is what controls here.

What are the voting approval threshholds for a reorg of this magnitude?

As long as it happens during conservatorship, all that's needed is for FHFA and Treasury to agree. Existing shareholders would still have no voting rights (just like now).