Thanks, Fairchij! Remarkable quotes:
- "Our expectation is that rights plans will not be permitted to remain in effect to prevent acquisitions of shares made in compliance with the new formal bid requirements …"
- "Since a target company will have 105 days to respond to a hostile bid (i.e., a period that is well in excess of the amount of time that securities regulators have in the past typically provided Canadian issuers before cease trading a rights plan), in many cases target companies may well conclude that they have sufficient time to respond to a hostile bid without needing to adopt a rights plan."