Stephen Halperin quoted in "Defensive tactics in Canadian M&A", Financier Worldwide
|Area||Mergers and Acquisitions|
Excerpt from "Defensive tactics in Canadian M&A", by Claire Spencer:
Until recently, hostile bids for Canadian companies were rarely cross-border. Stephen H. Halperin, a partner at Goodmans LLP, points to several reasons for the change. “First, competition for strategic targets in consolidating, globalising industries has resulted in an ‘eat or be eaten’ mentality. Second, there is an increased willingness on the part of bidders to forego the benefits of access to target management and other due diligence access to confidential information. Third, bidders are less willing to give up after unsuccessful attempts at friendly negotiations. Fourth, bidders know they are likely to deal with only a handful of target shareholders. Finally, there is a perception by prospective bidders that hostile bids have a greater likelihood of success in Canada,” he says.
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