Fasken is pleased to release its Canadian Proxy Contest Study - 2018 Update. Our 2018 Update offers a review of proxy contest activity in Canada over the past year and follows on from our ground-breaking 2013 Canadian Proxy Contest Study and our annual updates.
Highlights from this year's update include:
- Dissidents ended management's winning streak
- Institutional activists came off the sidelines … and had success in doing so
If you are interested in the current state of hostile bids in Canada, we recommend reading our blog "Hostile Bids on Ice: Canadian Hostile Bid Activity Trends Substantially Lower" which provides an analysis of hostile bid activity since Canada's new take-over bid regime that came into effect in May 2016. As you will see, we have drawn a very different conclusion from others who suggest the new regime has had no adverse impact on hostile bid activity. Our blog makes refrence to our 2015 Canadian Hostile Take-Over Bid Study, which provided an empirical analysis of all 143 hostile bids for control of a Canadian-listed issuer over the ten-year period ending 2014.
You may also be interested in our Directors' Handbook: Shareholder Activism, which provides practical guidance for public company directors and boards looking to bolster their defence against activists.