Norton Rose Fulbright, The Boston Consulting Group (BCG) and RBC
Capital Markets today released a white paper entitled
Beyond governance, which provides a Canadian
perspective on the critical role that shareholder value creation
plays in preempting activism.
The white paper emphasizes that, while good governance is an
important element of an overall defence against activist
intervention, and in several instances poor governance practices
have been among the issues cited by activists targeting Canadian
companies, more needs to be done by Boards of Directors.
"The best defence against activists targeting Canadian
companies is to create sustainable shareholder value," said
Walied Soliman, partner, Norton Rose Fulbright Toronto, and
co-chair of the Canadian special situations team. "Companies
must move beyond governance and implement procedures to ensure that
their boards provide strong and active oversight of value creation
alternatives and strategy development,"
