“New takeover rules put chill on ‘rolling the dice’” by Janet McFarland, Globe and Mail.
Globe and Mail quotes Toronto lawyers Aaron Atkinson and Bradley Freelan in an article on new hostile takeover rules.
Four unsolicited takeover bids were announced last year and one has been announced so far in 2017, a decline from eight hostile bids in 2015 and seven in 2014, according to data compiled by deal lawyers Aaron Atkinson and Brad Freelan at Fasken Martineau DuMoulin LLP.
Mr. Freelan said the most important question for many deal advisers is not how many deals are announced, but how many bidders are able to succeed under the new rules.
With only three deals wrapped up since May, the outcome is mixed. In two cases, the original hostile bidder did not succeed.
