Emmanuel Pressman Emmanuel Pressman

Securities Commission staff raise the bar for conflict transactions

Staff of the securities regulatory authorities in each of Ontario, Québec, Alberta, Manitoba and New Brunswick have indicated that they intend to...

The Eco Oro decision – OSC invokes broad jurisdiction in effectively neutralizing a private placement

The Ontario Securities Commission recently released its reasons for overturning a decision by the Toronto Stock Exchange conditionally approving a...

InterOil Decision – Implications for Fairness Opinions, Disclosure and Corporate Governance in Sale Transactions

The Yukon Court of Appeal blocked Exxon Mobil's proposed US$2.3 billion acquisition of InterOil, in a decision with potentially significant...

Contested private placements under the new take-over bid regime: the Dolly Varden decision

On October 24, 2016, the OSC and BCSC issued their joint reasons relating to the proposed private placement undertaken by Dolly Varden Silver...

TSX provides guidance regarding the pricing of acquisition financing transactions

Some market participants may not be aware that the Toronto Stock Exchange, for years, has been scrutinizing the practice of launching and announcing...

Amendments to Canadian take-over bid and early warning regimes now in force

Amendments to the Canadian take-over bid and early warning regimes came into force on May 9, 2016.

New Take-Over Bid Regime

The Canadian Securities Administrators have published fundamental amendments to the take-over bid regime that are expected to come into force on May...