January 02, 2013
Expect big changes to the ways Canadian companies can be shaken up over the next twelve months. That’s the verdict from Torys LLP, which put together a list of the top mergers and acquisitions trends to watch for in 2013.
On one hand, the law firm argues that the Ontario Securities Commission’s proposed changes to poison pill rules will make it harder for hostile bidders to buy Canadian companies. On the other, growing shareholder activism is likely to put more homegrown companies in play.
The pending poison pill ruling has been watched closely for years, and it looks like the guidelines will finally be set in stone in 2013, impacting future hostile bids such as First Quantum’s recent offer to buy InmetMining for $5.1-billion.
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