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ARTICLE · 16 FEBRUARY 2021

Canadian Going Private Transactions - A Sample Timetable Part II

McCarthy Tétrault
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In this blog, we will provide a sample timetable for a hostile take-over bid.

CanadaCorporate/Commercial Law

In this blog, we will provide a sample timetable for a hostile take-over bid. While each transaction is different, the sample timetables are useful to provide an indication of the basic timing requirements for each type of transaction.

See Chinese version below [中文版参阅下文]

TIME EVENT
Day X Take-over bid circular mailed to target company shareholders
Issue press release announcing the proposed transaction
Day X + 15 Directors' circular mailed to target company shareholders
Day X + 105 Closing of 105-day bid period during which target company shareholders tender to the bid
Day X + 115 Closing of mandatory minimum 10-day extension period
Day X + 115

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