In response to the threat of a shareholder ambush of director nominations at a shareholder meeting, many Canadian companies have adopted advance notice provisions (ANPs). ANPs require that shareholders inform a company by a certain deadline if they wish to nominate directors to the board. For annual shareholder meetings, this deadline is typically no less … Continue reading
The Wall Street Journal reports that Vanguard Group, the largest mutual fund firm in the U.S., and BlackRock Inc., the world’s largest asset manager, are becoming more assertive in exercising their influence over companies in which they invest. This is a significant development, given Vanguard and Blackrock’s immense shareholdings in large American companies. BlackRock’s recently … Continue reading
A recent trio of hotly contested proxy fights involving Norton Rose Fulbright’s Special Situations Team helped further clarify and define the rights of a board of directors to determine the timing of a shareholders’ meeting. Bioniche Life Sciences Inc. With the July 18, 2013, decision of Justice Brown of the Ontario Superior Court in Wells v … Continue reading
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