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:

  1. 2014 witnessed the fewest contests since 2010.
  2. Management had its strongest results since 2011, winning 58% of board-related contests.
  3. Retail shareholders launched only one contest in 2014.
  4. Seeking a full slate remained the preferred (and more successful tactic).
  5. 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.

Download the full study here.