Capital Markets Capital Markets

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...

Insider trading: a first spring loading case in Québec

On August 16, the Tribunal administratif des marchés financiers, formerly the Bureau de décision et de révision, rendered a decision in which it...

Contested private placements under new take-over bid regime: Securities regulators reject Hecla challenge of Dolly Varden private placement

Canadian securities regulators have declined to cease trade a private placement of equity securities by a target company implemented following the...

Cost of compliance increases in Alberta

The Alberta Securities Commission is adopting a new rule regarding fees, ASC Rule 13-501 Fees. The New Rule, which becomes effective on December 1,...

Whistleblowers: The AMF will not offer any reward

On June 20, 2016, the Autorité des marchés financiers launched its Whistleblower Program based on confidentiality, anti-reprisal measures and...

Public contracts: Québec introduces the Autorité des marchés publics

On June 8, 2016, the Québec government introduced Bill 108 proposing the establishment of the Autorité des marchés publics to replace the...

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.