Heidi Reinhart

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CP Rail Supports an ESG-Related Shareholder Proposal Which Includes Annual Advisory Vote by Shareholders on a Climate Action Plan

By Heidi Reinhart and The Special Situations Team on March 31, 2021 Posted in Corporate Governance, Shareholder Activism

TCI Fund Management Limited (TCI) recently successfully submitted a climate change-related shareholder proposal (the Proposal) to Canadian Pacific Railway Limited (CP) to be voted on at CP’s upcoming 2021 annual general meeting of shareholders. As stated in its circular for the meeting, CP supports TCI’s Proposal and recommends shareholders vote in favour of it. Of … Continue reading

Aurora/CanniMed: Canadian securities regulators provide guidance on takeover bids in Canada – Expect to see more hard lock-ups and fewer tactical poison pills

By Walied Soliman and Heidi Reinhart on April 2, 2018 Posted in Uncategorized

The Ontario and Saskatchewan securities regulators (the Commissions) have released their reasons in connection with the unsolicited bid of Aurora for CanniMed (the Reasons). Below, members of our Special Situations team set out some of the key lessons of the decision. Key Takeaways expect to see an increased use of hard lock-ups (that is, lock-ups … Continue reading

Non-standard accounting measures: The media, regulators, and shareholders zero in

By Linda Fuerst, Orestes Pasparakis, Walied Soliman and Heidi Reinhart on September 29, 2016 Posted in Securities

Non-standard accounting practices have been gaining in popularity among Canadian publicly traded companies. Issuers that rely solely on standard accounting metrics now make up a small minority of the companies listed in the S&P 500 and S&P/TSX 60. Many issuers believe that non-standard measures are a better reflection of performance than Generally Accepted Accounting Principles … Continue reading