Removal of competitor could raise already-elevated bank fees, report says
The transaction would be similar to the takeover of Central GoldTrust in 2016 that had support from more than 96% of votes cast
C.D. Howe Institute says extended evaluation time for takeover bids benefits companies, shareholders
Canada’s provincial regulators also published final amendments to the “early warning” system on Thursday
Many comments suggest that 120 days is too long to keep the bid period open
A proposed 120-day requirement is intended to ensure that boards have enough time to respond to unsolicited take-over bids
Proposed amendments are designed to provide target boards with additional time to respond to hostile bids
The CSA and Quebec’s AMF have proposed different approaches to defense strategies in hostile takeover battles
Offer values merchant bank at $32.6 million
Harmonized rule removes detailed bid provisions from statutes and substitutes general “platform” provisions