Shareholder activism: important considerations for boards and management *

Canada - January 13 2011
Management should carefully design a process that can with-stand investor - and potentially judicial - scrutiny.

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Key lessons from the Magna decisions *

Canada - September 30 2010
The recently completed plan of arrangement of Magna International resulted in the elimination of its dual class share structure and the creation of a single class of equity securities in which all shareholders have a vote in proportion to their relative equity stake.

Co-authors: Jeremy Fraiberg, Jean Fraser.

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The Ontario Securities Commission’s recent decision in MI Developments Inc. highlights related-party transaction rules for public companies in Canada *

Canada - March 31 2010
For the first time in Canada, a recent Ontario Securities Commission (OSC) decision has cast light on the availability of exemptions from the minority shareholder approval and formal valuation requirements applicable to public companies engaged in related-party transactions.

Co-authors: Laura Fric.

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New TSX rule mandating buy-side shareholder vote in dilutive public company acquisitions takes effect today *

Canada - November 24 2009
Effective today, companies listed on the Toronto Stock Exchange (TSX) will be required to obtain buy-side shareholder approval for public company acquisitions that would result in the issuance of more than 25% of the issued and outstanding shares of an acquiring company on a non-diluted basis.

Co-authors: Douglas Bryce, Brooke Hales.

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TSX adopts 25% dilution threshold for buy-side shareholder vote in public company acquisitions *

Canada - October 1 2009
On September 25, 2009, the Toronto Stock Exchange (TSX) announced a significant change to its company manual governing TSX-listed companies with important consequences for mergers and acquisitions practice in Canada.

Co-authors: Douglas Bryce.

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