Fasken Martineau is pleased to release its Canadian Proxy Contest Study - 2015 Update.
Our 2015 Update explores some interesting reversals in trends that we previously identified in the ground-breaking 2013 Canadian Proxy Contest Study and its companion Canadian Proxy Contest Study - 2014 Update.
The highlights from 2014 were:
- 2014 witnessed the fewest contests since 2010.
- Management had its strongest results since 2011, winning 58% of board-related contests.
- Retail shareholders launched only one contest in 2014.
- Seeking a full slate remained the preferred (and more successful tactic).
- Perhaps as a sign of the strength of management's performance in 2014, settlements were a rare occurrence.
In addition to our proxy contest series, we recommend downloading the 2015 Canadian Hostile Take-Over Bid Study, released earlier this year, which provides an empirical analysis of all 143 hostile bids for control of a Canadian-listed issuer over the ten-year period ending 2014.
Our empirical studies offer some surprising findings and insight and analysis that will be of interest to all participants in Canada's thriving M&A market, including boards, shareholders, bidders, advisors and regulators. To learn more, download Fasken Martineau's Canadian Proxy Contest Study - 2015 Update.