Blurry view of people walking in a long hallway

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