Takeovers Get a Makeover - A Guide to the New Takeover Bid Regime in Canada
|Area||Corporate Finance and Securities, Mergers and Acquisitions|
Article originally published in The M&A Lawyer, March 2016
After a number of years of review and discussion, and after considering several different proposals, on February 25, 2016, the Canadian Securities Administrators (CSA) released the final version of new harmonized takeover bid rules. These new rules represent the most significant changes to the takeover bid landscape in Canada since the original adoption of the current takeover bid regime in 1966. This guide reviews the background to the amendments, outlines the fundamental changes reflected in the new rules and considers a number of implications and issues that we anticipate will result from their adoption.