Take-Over Bid Rules Not Made to Be Broken – OSC Rejects Requested Relief from Minimum Tender Requirement
By EsqSocial Corporation 23/03/21
The Ontario Securities Commission (the OSC) recently released its decision rejecting a request from ESW Capital, LLC (ESW) for relief from the minimum tender requirement under Canadian take-over bid rules (the Relief) in connection with a proposed hostile take-over bid by ESW for Optiva Inc. (Optiva). This represented the first request for exemptive relief from the minimum tender requirement since adoption of the new take-over bid rules in 2016....
By: Blake, Cassels & Graydon LLP