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Shareholder Activism in Canada: The Legal Framework

Fasken
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Overview

Shareholder activism is firmly entrenched in the Canadian corporate landscape, and Canada has proven fertile ground for dissidents. To assist both target companies and activists, we’ve prepared a concise but comprehensive overview of the key tactics and related legal issues that are fundamental to shareholder activism in Canada.

Download our guide (PDF, 14,65 MB)

Our guide spotlights the different maneuvers both sides can expect – and should prepare for – during an activist campaign. We’ve also tackled these issues from a practical perspective, highlighting both the offensive strategies available to activists as well as the defensive tactics available to targets.

Public companies and their directors will also benefit from our Directors' Handbook: Shareholder Activism, which focuses specifically on strategies available to boards looking to bolster their defences against dissident campaigns.

For Fasken’s other M&A and corporate governance thought leadership, please visit our Capital Markets and Mergers & Acquisitions Knowledge Centre.

 

Contact the Authors

For more information or to discuss a particular matter, please contact us.

Contact the Authors

Authors

  • Bradley A. Freelan, Partner | Mergers & Acquisitions, Toronto, ON, +1 416 865 4423, [email protected]
  • Brad Moore, Partner | Litigation and Dispute Resolution, Toronto, ON, +1 416 865 4550, [email protected]
  • Marie-Josée Neveu, Partner | Chair of the Partnership Board, Montréal, QC, +1 514 397 4304, [email protected]
  • Neil Kravitz, Partner | Co-lead, Corporate, Co-lead, Cross Border and International Practice, Montréal, QC, +1 514 397 7551, [email protected]
  • Brandon Farber, Partner | Insolvency & Restructuring, Montréal, QC, +1 514 397 5179, [email protected]
  • Sarah Gingrich, Partner | CO-LEADER, CAPITAL MARKETS AND MERGERS & ACQUISITIONS (CM AND M&A), Calgary, AB, +1 587 233 4103, [email protected]
  • Shanlee von Vegesack, CFA, Partner | Capital Markets, Mergers & Acquisitions, Calgary, AB | Vancouver, BC, +1 604 631 4952, [email protected]
  • Tracey M. Cohen, KC, FCIArb, Partner | Commercial Litigation, Vancouver, BC, +1 604 631 3149, [email protected]
  • Georald Ingborg, KC, Partner | Mining, Vancouver, BC, +1 604 631 3225, [email protected]
Bradley Freelan Toronto Lawyer Bradley A. Freelan Partner | Mergers & Acquisitions Toronto, ON +1 416 865 4423
Brad Moore Toronto Lawyer Brad Moore Partner | Litigation and Dispute Resolution Toronto, ON +1 416 865 4550
Marie-Josée Neveu, Partner | Chair of the Partnership Board Marie-Josée Neveu Partner | Chair of the Partnership Board Montréal, QC +1 514 397 4304
Neil Kravitz Associé/Partner Montréal Neil Kravitz Partner | Co-lead, Corporate, Co-lead, Cross Border and International Practice Montréal, QC +1 514 397 7551
Brandon Farber Avocat/Associate Montréal Brandon Farber Partner | Insolvency & Restructuring Montréal, QC +1 514 397 5179
Sarah Gingrich, Partner | CO-LEADER, CAPITAL MARKETS AND MERGERS & ACQUISITIONS (CM AND M&A) Sarah Gingrich Partner | CO-LEADER, CAPITAL MARKETS AND MERGERS & ACQUISITIONS (CM AND M&A) Calgary, AB +1 587 233 4103
Shanlee von Vegesack Calgary Lawyer Shanlee von Vegesack, CFA Partner | Capital Markets, Mergers & Acquisitions Calgary, AB Vancouver, BC +1 604 631 4952
Tracey M. Cohen, Partner | Commercial Litigation Tracey M. Cohen, KC, FCIArb Partner | Commercial Litigation Vancouver, BC +1 604 631 3149