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ARTICLE · 11 SEPTEMBER 2023

From Public To Private: Strategic Considerations For Going-Private Transactions

Miller Thomson
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The decline in Canadian equity financings and rising interest rates have prompted strategic changes among Canadian public companies. Faced with funding challenges and escalating borrowing costs...

CanadaCorporate/Commercial Law
Myron Mallia-Dare
Myron Mallia-Dare
Christopher Fallis
Christopher Fallis
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The decline in Canadian equity financings and rising interest rates have prompted strategic changes among Canadian public companies. Faced with funding challenges and escalating borrowing costs, more reporting issuers are considering going-private transactions.

This article provides an overview of Canadian going-private transactions and outlines key considerations for both the strategic buyer and the target company involved in such transactions.

PRIVATE EQUITY CONSIDERATIONS

Declining markets prompt strategic buyers, like private equity ("PE") funds, to seek acquisition opportunities where a target's market value misaligns with its perceived value. PE funds view going-private as an opportunity to lower costs, enhance operational strategies, shield from market pressures and reduce regulatory obligations. Enhanced operational flexibility and the freedom to enact changes without immediate market scrutiny increase the perceived value of going-private. PE funds

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