Regulatory Alerts2023-06-09
Regulation 62-104 respecting Take-Over Bids and Issuer Bids
The securities regulatory authorities have issued Regulation 62-104 to establish comprehensive rules governing take-over bids and issuer bids under the Securities Act. The regulation defines key terms such as offeror, offeree issuer, and acting jointly or in concert, while setting strict restrictions on acquisitions and sales during the bid period. It further mandates specific disclosure requirements, including the preparation of bid circulars and news releases, to ensure transparency for security holders.
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