On February 13, 2014, TSX announced amendments to the TSX Company Manual which mandate majority voting in uncontested elections of directors for TSX-listed issuers that are not majority controlled. The purpose of these amendments, as stated by the TSX, is
February 2014
ISS pulls the “golden leash”, but has it gone too far?
By Saeed Teebi (Toronto) on
The most publicized proxy battle of 2013, Agrium Inc.’s showdown with activist US hedge fund Jana Partners, introduced the concept of the “golden leash” to the Canadian proxy scene. Jana nominated four independent directors to the board of Agrium, and…