Under Canada’s early warning reporting (EWR) system, investors holding 10% or more of a public company’s voting securities must publicly report their ownership levels, the purpose of the transaction and any future intention to accumulate more securities. Eligible institutional investors can report more slowly than EWR filers and provide less information by making use of… → Read More
Proposed Changes to Early Warning Reporting System Address Market Transparency and Shareholder Activism in Canada
Posted in Public M&A, Shareholders, StrategyMAC-Ademy: An Introduction to the Material Adverse Change Clause
Posted in Contractual Matters, Private Transactions, Public M&A, StrategyRecently, a curious team of our M&A bloggers presented an internal roundtable discussion aimed at understanding some of the key issues regarding material adverse change (otherwise known as “MAC”) clauses. Part of what came out of that discussion is a presentation that provides an introduction to the MAC clause and some analysis regarding current trends… → Read More
Amending Interim Order and Circular for a Superior Proposal – Plan of Arrangement Leftovers
Posted in Public M&AThe proposed acquisition of Prime Restaurants discussed in this recent post by Robert Hansen continues to whet our blogging appetite. Prime had initially signed a friendly deal to be acquired by Cara Operations via a plan of arrangement and put out a proxy circular dated November 10th with a record date of November 4th and a shareholders meeting… → Read More
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