Canada Unveils Rules To Strengthen Poison Pills

Law360, New York (March 15, 2013, 3:40 PM EDT) -- Canadian regulators published a pair of rule proposals Friday designed to strengthen the ability of companies to use a so-called poison pill to block hostile takeover attempts, a change for a country with traditionally weak protections against takeovers.

The Canadian Securities Administrators published a proposed bill that would make it much harder for regulators to stop companies from implementing a shareholder rights plan, or poison pill, that effectively raises the price of a successful takeover. And Quebec's provincial regulator, the Authorite des Marches Financiers, or AMF,...
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