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Canada’s regulatory system regarding proxy battles for control of companies is the subject of considerable debate.
Canada’s regulatory system regarding proxy battles for control of companies is the subject of considerable debate.
(Arpad Benedek/iStockphoto)

Canada’s not an activist investor’s paradise: Lawyer

Canada may not be the “promised land” it once seemed for activist investors.

While the country may appear to be more shareholder friendly than the U.S. because of its regulatory regime, the opposite is true, according to Patricia Olasker, a senior partner at Davies Ward Phillips & Vineberg LLP. Ms. Olasker, who became involved in proxy fights through her mergers and acquisitions practice, takes a contrasting view from Canadian investor Stephen Griggs, the co-author of a recent report by data provider Activist Insight.