Regulatory Alerts2025-09-19
Regulation 62-104 Respecting Take-Over Bids and Issuer Bids
The securities regulator 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 specific restrictions on acquisitions during the bid period. It mandates fair consideration levels, disclosure requirements, and procedural timelines to ensure transparency and protect security holders.
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