I elected all cash and it sounds like if that option was selected, it will be about 90% cash but I'm assuming they understood my question correctly.
I hold IAM in an account with RBC Direct Investing and also one with Scotia iTrade. Only RBC asked me for how I wanted to receive proceeds--iTrade just asked for a vote on the deal. Anyone notice anything like that with their broker? I'm assuming if the deal is approved, iTrade will send the form to indicate whether I want cash or stock.
I no longer have any accounts with Scotia iTrade for this reason. They are terrible to deal with for corporate actions. My experience was generally:
1) Call and wait on hold
2) Tell the person I spoke with what I wanted to do (tender, whatever)
3) Have them argue that there is no such action and I am mistaken
4) Argue some more, finally convince them that I should get escalated to a supervisor
5) Have the supervisor tell me there is no such action and I am mistaken
6) Convince the supervisor to send in a ticket for someone to research
7) 2 days later, get an automated message that I should call them.

Call and wait on hold
9) Give instructions verbally to someone with absolutely no finance facility whatsoever, slowly and painfully.
After a few odd lot tenders where I spent hours on the phone for a $100 profit, I moved my accounts. YMMV, but if you expect to do special situations with any regularity I wouldn't use iTrade.