In most Canadian M&A transactions, shareholders are entitled (either by statute or court order) to dissent from a transaction and be paid the fair value of their shares. Most dissent and appraisal cases settle, with the result that there are relatively few court decisions of note. Absent settlement, a court must determine the fair value (FMV) of the shares. In the mining context, this task may be complicated by the prospect of valuing exploration lands unsupported by a “NI 43-101” (Standards of Disclosure for Mineral Projects) report or data demonstrating economic mineralization.… Continue Reading
About This Blog
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.