Hostile Take-Over Bids in Canada
|Lawyer||Jonathan Feldman, Michael Partridge|
|Area||Corporate Finance and Securities|
In Canada, as in the U.S., take-over bids (tender offers) can be used by potential acquirors to take a ‘hostile’ or unsolicited offer to purchase a public company directly to shareholders, bypassing the target board. Although the general framework for regulating hostile bids is similar in both countries, there are several differences that make Canada a more ‘bidder friendly’ jurisdiction. The summary below provides an overview of certain key considerations relevant to hostile take-over bids in Canada.