Dec. 19, 2024 - Despite a strong start to the year, activist activity in Canada in 2024 tapered to pre-pandemic levels. This reversion to more historic annual totals follows a notable resurgence of shareholder demands directed at Canadian public companies in 2023, when shareholder engagement reached its...
In the News
Patricia Olasker Talks to The Globe and Mail About the Upcoming Hearing on New Takeover Rules
With the Ontario Securities Commission (OSC) set to rule for the first time on a key aspect of Canada’s new takeover regime, The Globe and Mail featured Patricia Olasker for her perspectives on the potential implications of the decision on future hostile takeover bids.
The hearing, at which tech investment firm ESW Capital LLC will seek an exemption from the new rules in an attempt to gain control of Optiva Inc., will be watched closely by lawyers and M&A advisers, who see it as a barometer of the OSC’s willingness to grant exemptions from the new rules.
“In a world where we haven't had much M&A litigation of late, I think this will be of great interest,” said Patricia.
The OSC decision will not be precedent-setting, she explained, “because every fact set will be different.” But if the OSC does grant ESW an exemption, “it would certainly tell you that it's worth a shot [applying for an exemption], if that's what's getting in the way of your deal,” she added.
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Governance Insights: Nominee Directors – Fiduciary Obligations and the Limits of Information Sharing
Oct. 08, 2024 - The corporate life of a nominee director has been characterized as having the potential to be “neither happy nor long. ” In this Governance Insights article, we discuss the fundamental fiduciary considerations that nominee directors, nominating shareholders and companies should bear in...
