Canadian Mining Journal


Commentary: New takeover bid rules take effect in Canada

As of today, new takeover bid rules have taken effect across Canada. These new rules will undoubtedly have a significant impact on the Canadian mining sector, which accounts for approximately 40% of the number of listed companies on the Toronto Stock Exchange and TSX Venture Exchange.

The new rules are intended to enhance the quality and integrity of the takeover bid regime and rebalance the dynamic between bidders, target boards and target shareholders by facilitating target shareholders’ ability to make voluntary, informed and coordinated tender decisions; and providing target boards with additional time and discretion when responding to a takeover bid.

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