A part of my portfolio is in gold, and I've been holding units of GTU.UN (central gold trust on TSX, in $CAD) in one of my accounts. I checked my portfolio on Google finance this week and found that it was way down, a lot more than I would have expected even with the recent market plummet. Upon closer inspection it was showing my gold trust to be worth 0, which seemed a bit odd. That's when I found out that it had been taken over by sprott physical gold trust. I hadn't had any mergers or takeovers in my portfolio before, so I'm curious how they work for the shareholders.
Apparently I should be getting around 4.4 units of sprott (PHY.U) for every unit of GTU. However, PHY.U trades in US dollars, same as GTU.U, but GTU.UN is in Canadian dollars. Are they simply going to assume 1 unit of GTU.UN is the same as one unit of GTU.U, and my new holdings will be in US dollars? Does it all happen automatically without my input? My broker site is still showing me holding GTU.UN but the market price is frozen at a price from several weeks ago.