Alberta’s Court of Appeal recently overturned a controversial interlocutory decision involving a proposed acquisition by Alberta Oil Sands Inc. (“AOS”) of Marquee Energy Ltd. (“Marquee”) pursuant to a plan of arrangement under s. 193 of Alberta’s Business Corporations Act (“ABCA”). Even though only Marquee was being arranged, thus necessitating a vote by its shareholders, the underlying decision of the Court of Queen’s Bench required that AOS also seek the approval of its shareholders to implement the transaction. The Court of Appeal set aside the lower Court’s order requiring AOS shareholders to vote on the … Continue Reading
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This blog voices our perspectives on developments in M&A and private equity, comments on the impact of changes to corporate-commercial laws as they may affect M&A activity, relates insights derived from our experiences handling some of the largest and most complex transactions, and shares best practices from our adventures in deal-making.