 | Financing conditions in Canadian takeover bids |
June-7-2001
| Area | Corporate Finance and Securities |
Summary
In contrast to many other jurisdictions, Canadian securities legislation requires a bidder to have made “adequate arrangements” before launching a take-over bid “to ensure the required funds are available to effect payment” for the securities subject to the bid. There has been considerable debate, and little learning, as to what are “adequate arrangements”.
