Critical Update: The New Take-Over Bid Rules

Faculty

Changes are on the horizon for Canada’s take-over bid regime. The CSA’s amendments to MI 62-104 Take-Over bids and Issuer Bids and National Policy 62-203 Take-Over Bids and Issuer Bids will dramatically shift the balance of power between target boards and shareholders. These changes will have far reaching implications on the structure of transactions, and the use of various defensive tactics in hostile bids.

In this 75 minute OsgoodePD webinar, an expert faculty of legal and industry experts will guide you through the key elements of the new take-over bid regime using a case-study approach. Moving beyond information delivery, you will learn not only the law, but will gain an understanding of providing effective legal and strategic deal advice under the new regime.

This dynamic and informative discussion will provide practical insight on:

• Overview of the new take-over bid regime, and the impact on public issuers
• Extension of minimum bid period to 105 days- what is the effect on target boards and hostile bidders?
• Why was the originally proposed 120 day bid period shortened to 105 days?
• Impact of the 50% minimum tender condition – how does this differ from the old rules?
• Effect of the 10 day extension after minimum tender conditions are met
• How will your legal and strategic advice to bidders change?
• New strategies for bidders to be successful in the 105 day window
• Defensive tactics
• Impact of the new regime on poison pills and “pill hearings”
• Stance of the CSA
• Future use of poison pills
• Effect of the new 50% minimum tender conditions on private placements and equity securities
• Discussion of related changes to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues

If you advise on hostile bids or defensive tactics, or work for a public issuer that may make or defend these bids, this is a unique opportunity to understand the new regime so that you can hit the ground running.

Faculty

Moderator

• Jason A. Saltzman, Dentons Canada

Panelists

• Jason Koskela, Senior Legal Counsel, Ontario Securities Commission; Chair, CSA Take-Over Bid Committee
• Hooman Tabesh, Executive Vice President & General Counsel, Kingsdale Shareholder Services
• J. Alexander Moore, Davies Ward Phillips & Vineberg LLP

Group Discounts

Please note that the group discount is only available when paying for members of the same organization, at the same time, and payment is made with one invoice.

Webcast Fee per Delegate

2-3 delegates: 25% off program fee
4-10 delegates: 30% off program fee
11+ delegates: 35% off program fee
Boardroom rates available.

Delivery

The video stream, including link to program materials will be sent to you via email as soon as payment is successfully processed.

Refunds

All sales are final. Please make all enquiries related to program content and CPD/MCLE credit hours prior to purchase.

Technical Support

In the event you experience technical difficulties, please contact opdsupport@osgoode.yorku.ca for assistance.