Earlier this month, the American Bar Association (the
"ABA") released its
Study (the "Study") analyzing
publicly available acquisition agreements for transactions that
were signed in 2020, 2021 and 2022 that involved Canadian private
targets that were either acquired or sold by public companies. The
acquisition agreements were filed on SEDAR+ (the "System for
Electronic Documents and Analysis and Retrieval +" maintained
by the Canadian Securities Administrators.)
The Study sample covered 83 acquisition agreements and excluded
agreements having a transaction value of less than CAD $5 million,
transactions where the target was in bankruptcy, transactions
involving non-arm's length parties and transactions not
governed by Canadian law, among others.
