AlphaWeek quotes Toronto lawyers, Aaron Atkinson and Bradley Freelan, in an article on proxy contests in Canada.
“For the first time in three years, dissidents had success in a majority of formal board-related proxy contests,” said Fasken M&A partner Aaron Atkinson. “In addition, more contests were initiated by outside activists than by current or former management.”
“Most of the action focused on micro-cap companies, but a quarter of the contests involved large cap companies, an increase over 2016,” said M&A partner Bradley Freelan. “Also of note, institutional activists came off the sidelines in 2017, achieving full or partial success in four of five contests launched.”