Mr Kent D Kufeldt

Kent D Kufeldt


Corporate Finance/M&A

60-day bid, 120-day pill, 90-day decision: a sign of further change to come?
Canada | 16 December 2015

In Suncor's hostile bid for Canadian Oil Sands the target adopted a poison pill that required a 120-day deposit period consistent with the required deposit period in the proposed new takeover bid regime. When Suncor challenged this, the Alberta Securities Commission held that it would leave the pill in place for now and cease trade the pill after a total of 90 days. Was this the right decision, and is this a sign of further changes to the proposed new takeover bid regime?