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Activist investor Bill Ackman, chief executive officer and portfolio manager of Pershing Square Capital Management LP.
Activist investor Bill Ackman, chief executive officer and portfolio manager of Pershing Square Capital Management LP.
(BRENDAN HOFFMAN/REUTERS)

The proxy fight trends to watch for next year

Canadian companies should brace for more shareholder angst, regulatory change and the rise of homegrown activist investor battles next year.

After a year of proxy fights that included the high-profile Telus Corp. and Mason Capital Management LLC, and Agrium Inc. versus Jana Partners LLC, several trends have emerged that will change the way battles for company control are fought and won in the future, according to a panel of two Norton Rose Fulbright lawyers and one proxy adviser.