Mergers and acquisitions

A mergers and acquisitions transaction refers to a transaction in which one issuer obtains control of all or part of the business of another issuer. Mergers and acquisitions transactions may be structured in several different ways, including:

• take-over bids

• plans of arrangement

• amalgamations

• asset sales

• corporate restructurings

• going-private transactions

The regulatory framework for mergers and acquisitions transactions requires careful interpretation due to a few important considerations, such as:

• the overlapping requirements of securities law and corporate law

• the distinctive requirements that apply to corporate voting transactions and take-over bids

• the concurrent jurisdiction of the courts and securities regulators on certain mergers and acquisitions issues

• the imposition of additional securities law requirements on mergers and acquisitions transactions that raise major conflict of interest concerns