Capital Markets Capital Markets

Shareholders divided on proxy access

A shareholder proposal requesting that the board of directors take steps to adopt a “proxy access” by-law was considered at the annual meetings...

You’ll just have to settle for less — SEC shortens settlement window to T+2

On March 22, 2017, the U.S. Securities and Exchange Commission amended its rules under the Securities Exchange Act of 1934 to shorten the standard...

Fairness Opinions after InterOil

The Supreme Court of Yukon recently issued its reasons for approving Exxon Mobil’s acquisition of InterOil. Issuers and financial advisors should...

SEC “tags” public companies using IFRS with XBRL reporting requirements

The U.S. Securities and Exchange Commission made a long-awaited update to its requirement for public companies to provide a version of their...

Supreme Court of Canada clarifies the remedy of rectification in Canadian tax cases

On December 9, 2016, the Supreme Court of Canada released two much-awaited decisions in Fairmont and in PJC that clarified the scope of the remedy...

SPACs seek to complete qualifying acquisitions

We also expect there will be further developments in practice as the existing SPACs move to complete their qualifying acquisitions. Market...

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...