The Lawyers Weekly interviews Aaron Atkinson and Bradley Freelan, Toronto M&A partners, about the firm's 2015 Canadian Hostile Take-Over Bid Study in an article that discusses the Canadian Securities Administrators’ proposed amendments to allow companies targeted for hostile takeovers more time to prepare their defence.
“That could potentially increase competition. One of the purposes is to rebalance the playing field to give the board more time to find alternatives. But if bidders know that their odds of winning are decreased by virtue of this competition, the question is ‘do they make the bid in the first place?’ - in which case maybe we have a dampening in M&A activity and less value for shareholders. That’s kind of the flip side of this coin”.
The 2015 Canadian Hostile Take-Over Bid Study is co-authored by Aaron Atkinson and Bradley Freelan.