Summary

Engaged investors and stakeholders are increasingly seeking to influence strategic and operational decision making, the board and management makeup and internal corporate practices of Canadian public companies. Activists are looking to change leadership, corporate governance, capital structures and business practices, all in an effort to improve shareholder returns.

Whether undertaken publicly or privately, corporations and boards must be prepared to respond quickly and effectively to shareholders' concerns and activists must have the right information and a carefully planned strategy when confronting boards. Assessing risks and financial implications, considering strategic alternatives and advance preparation are essential in order to achieve successful results.

BLG has extensive experience in implementing effective strategies for both target companies and activists. Our playbook on shareholder activism is well-tested and we undertake a multi-disciplinary approach, combining our corporate and securities expertise with our deep litigation experience that has resulted in leading case law and new best corporate practices. We provide strategic and technical advice in connection with:

  • initial activist proposals and responses
  • proxy fights
  • unsolicited take-over bids
  • corporate defenses
  • disclosure and communications policies
  • dispute resolution alternatives
  • management of shareholder meetings
  • responding to shareholder proposals and demands for corporate records
  • regulatory requirements, government investigations and hearings
  • related-party transactions
  • internal investigations

We also advise Canadian public companies, boards of directors and special committees on corporate governance matters and day-to-day securities compliance issues.

Publications & Presentations

Presentations

Publications

​Client Bulletins

Representative Work

BLG has played a significant role in recent high profile contested transactions, including representing:

  • Delbrooke Capital in its successful election of its slate of dissident director nominees to the board of directors of Rapier Gold Inc., including the court ordered appointment of an independent chair.
  • Dolly Varden Silver Corporation in its successful defence of a take-over bid by Hecla Mining, including the successful representation of Dolly Varden in joint hearings before the Ontario and British Columbia Securities Commissions.
  • The Special Committee of the Board of Taseko Mines in its successful proxy fight with Raging River Capital.