November 17, 2016
Partner Sharon Geraghty has written “Takeover Rules: In Support of the Longer Minimum Bid Period” in collaboration with the C.D. Howe Institute, outlining the implications of the new minimum bid period for takeover bids in Canada to bidders, boards and shareholders.
Sharon explains that since Canadian regulators adopted a 105-day minimum bid period, “The rules surrounding takeover bids and defensive tactics remain contentious within the financial community.” She outlines how the new rules will strengthen the board’s role and increase the likelihood of a successful takeover bid, maximizing value for the target shareholders. However, she warns that the new securities laws should “not foster short-term price gains” and rather promote “strong public companies and capital markets that deliver long-term economic value” to investors.
Access the full report from the C.D. Howe Institute here.
Read our bulletin on the latest word from regulators on Canada’s new takeover bid regime here.