INTRODUCTION
Canada has an active and vibrant mergers and acquisitions
market. The legal processes and procedures reflect this, by
establishing relatively clear and straightforward rules by which
M&A transactions can be completed. At the same time, the law
continues to develop and evolve as it relates to directors'
duties and responsibilities, so that hostile acquisitions and
responses to shareholder activism can be the subject of creative
strategies and structures.
The summary is intended to provide a high level outline of the
principal legal considerations pertaining to public company M&A
in Canada. The question and answer format is designed to provide
answers to some of the most commonly asked questions by potential
buyers who are contemplating an M&A transaction. The summary is
based on the law as it stands as of January 2019, almost three
years after significant changes were made to take-over rules in
Canada. These rules were designed, among other reasons, to
