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Corporate Finance and Securities: Recent Developments of Importance

January-7-2013

Lawyer Jonathan Feldman, Michael Partridge
Area Corporate Finance and Securities, Shareholder Rights and Activism

Summary

Article originally published in the 2013 Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada

Excerpt from "Corporate Finance and Securities:  Recent Developments of Importance":

Activist Investing in Canadian Companies

Since 2007, Canada - like other jurisdictions - has seen a significant increase in shareholder activism.  This increase can be attributed in part to underperformance by many of the companies who have been targeted.  At the same time, there is a growing recognition on the part of activist investors – particularly those outside of Canada – that Canada is a more “activist friendly” jurisdiction than some others, including the United States.  Canadian corporate and securities laws enable shareholders to relatively easily effect corporate change through shareholder proposals, the requisitioning of shareholder meetings, proxy contests and in some cases through the courts.  This article provides an overview of some of the key legal considerations relevant to shareholder activism in Canada.

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