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Blog Post | Timely Disclosure

OSC Releases Reasons for Rejection of Application to Waive Minimum Tender Condition

Fasken
Reading Time 1 minute read
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Introduction Recently, the Ontario Securities Commission (“OSC”) released its reasons for a September order dismissing an application for exemptive relief from the minimum tender requirement under Canada’s securities take-over bid regime.[1] ESW Capital, LLC (“ESW”), the largest shareholder of Optiva Inc. (“Optiva”), sought the relief in connection with a contested proposed take-over bid involving shares... Continue Reading

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