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Goodmans Publications

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.

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