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ARTICLE · 23 DECEMBER 2009

Private Placements And M&A Transactions: Moving Beyond Hudbay

McCarthy Tétrault
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Following the Ontario Securities Commission’s (OSC) controversial January 2009 decision in Re Hudbay Minerals Inc., two decisions made by the Alberta Securities Commission (ASC) and the OSC in August 2009 provide additional perspective on the use of private placements in the context of significant corporate transactions, and on the appropriate standard for review of Toronto Stock Exchange (TSX) decisions.

CanadaCorporate/Commercial Law
Roger Chouinard
Roger Chouinard
Peter Goode
Peter Goode
Sven Milelli
Sven Milelli
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Following the Ontario Securities Commission's (OSC) controversial January 2009 decision in Re Hudbay Minerals Inc., two decisions made by the Alberta Securities Commission (ASC) and the OSC in August 2009 provide additional perspective on the use of private placements in the context of significant corporate transactions, and on the appropriate standard for review of Toronto Stock Exchange (TSX) decisions. Together, these decisions make important distinctions and refinements to the reasoning in Hudbay, and will be of interest to public companies and their advisors.

For a discussion of the facts and ruling in the Hudbay decision, please see our Legal Update published May 6, 2009 and the article in our May 2009 issue.

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