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Recent Developments in the Regulation of Defensive Tactics in Canadian Take-over Bids – Part II

By Ethan Minsky

This is the second instalment of a three part article. In the first part, we discussed the basic concepts and guiding principles applied by Canadian securities regulators when they are asked to cease trade an effort to defend against a take-over bid. In this second part, we will discuss the British Columbia Securities Commission’s decision in Re Red Eagle, 2015 BCSECCOM 401, in which these guiding principles were applied. If you missed the first instalment and you would like to read it now, here is a link to Part I.