Unsolicited takeover bids for Canadian companies must seek at least 50 per cent of a target company’s stock and remain open for at least 105 days, according to new rules that will take effect in May.
Canadian Securities Administrators, the umbrella group that coordinates policy among Canada’s 13 provincial and territorial securities regulators, published the new rules Thursday.
DREW HASSELBACK – Financial Post – February 26, 2016.