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Directors' group backs Quebec model on unwanted takeover bids

Canada’s largest association of corporate directors has come out in favour of Quebec’s position on proposed reforms to takeover rules, saying the province’s model will give boards more scope to deal with unsolicited takeover bids.

The Institute of Corporate Directors has taken a clear side in a national debate about how much power companies should have to reject unwanted takeover offers, saying the proposal from Quebec's securities regulator – the Autorité des marchés financiers (AMF) – should be adopted as a national system for all of Canada.