In a recent article for Lexpert.ca, author Jonathan Feldman discusses the state of shareholder activism in Canada and delves into what's top-of-mind for him as we head into the 2024 proxy season.
Excerpt from "The Shareholder Activism Phenomenon is Strong and Will Remain Strong for the Foreseeable Future":
It's been an incredibly busy year in shareholder activism, and it kicked off at the very beginning of January. It's one of the most active years I've seen in over 10 years of doing this, both in terms of traditional proxy contests, starting with First Capital, and a surge in M&A activism, which we haven't seen in the Canadian market: it's pretty typical in the US but a new phenomenon in Canada. We're seeing much more scrutiny on every deal that gets announced, which is certainly a change. Companies announcing deals right now should assume, or at least prepare for, the potential involvement of activist shareholders looking to challenge or alter the deal terms and should structure their deals in a way that can withstand an activist campaign.
To read the full article, click here.
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