Top Canadian public M&A legal developments in 2022

In this article – “Top Canadian public M&A legal developments in 2022” – we review Canadian M&A activity in 2022; the use of derivatives in toehold accumulation strategies; implications of the delayed appeal of the Cineplex/Cineworld decision; recent developments in Rio Tinto’s proposed take-private acquisition of Turquoise Hill Resources; recent examples of public M&A deals being announced on the basis of term sheets; modifications to dual class share structures; the expectation that well-capitalized buyers will take advantage of depressed target prices during the first half of 2023; and further anticipated responses from the Ontario Securities Commission with respect to a number of outstanding proposals included in the Ontario Capital Markets Modernization Taskforce final report.

This article is authored by Alex Gorka, partner and Co-Chair, Mergers and Acquisitions; Emmanuel Pressman, partner and Chair, Corporate; and Jeremy Fraiberg, partner, Corporate and Co-Chair, Mergers and Acquisitions.

Legal Year in Review is brought to you by Osler, Hoskin & Harcourt LLP. Osler is a leading, national law firm with a singular focus – your business. We advise clients on an array of domestic and cross-border legal issues, drawing on the expertise of over 500 lawyers to provide the answers you need, when you need them.

Our Legal Year in Review, published December 7, 2022, provides general information only and does not constitute legal or other professional advice. Specific advice should be sought in connection with your circumstances.

For more information about Osler, please visit our website at osler.com. For the full Legal Year in Review, please visit www.legalyearinreview.ca.