Voting Rights In Int'l Exchangeable Share Deals

Law360, New York (November 2, 2010, 1:27 PM EDT) -- U.S. and other foreign acquirers continue to be active suitors for Canadian businesses. Often these buyers wish to pay for the target company with their shares or a combination of shares and cash. And many Canadian sellers are more than happy to take share consideration, particularly where the foreign buyer has attractive growth prospects.

However, Canadian sellers invariably do not want to pay tax on the shares they receive, at least not immediately. In many cases, that would result in their having to sell the shares...
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