Jon Feldman quoted in "Prescribing an Imperial Shot of Poison to Canadian Activism", Forbes
|Area||Shareholder Rights and Activism|
Excerpt from "Prescribing an Imperial Shot of Poison to Canadian Activism", by Christopher P. Skroupa:
Jonathan Feldman: Canada has always been different than the US when it comes to the role of poison pills. The “just say no defense” used in the US in the face of a hostile takeover has never been available in Canada. In Canada, poison pills could be adopted by boards in the face of a hostile bid, however, their purpose traditionally was to give the board more time to react to the bid – which only had to be open for 35 days – and find a “better bidder.” It was never intended to permanently thwart a bid. The general mantra was, “there is a time that a pill must go.”
Click here to read the full article.