Shareholders are increasingly engaging in public activism to both push for corporate transactions and to oppose board-approved transactions, driven by financial, legal, and governance considerations.

As we discussed, there are a number of proactive steps and defensive strategies available to companies to help minimize risks when it comes to transactional activism, including:

• Know your shareholders: Always have the pulse of your top shareholders and their priorities so that you’re never blindsided. If you announce a deal, get out in front of them asap to explain “why”, “why now”, and the integrity of the process. After your AGM, identify who voted negatively, and reach out to hear why, and what you might do better going forward.
• Ready your “defense team” so they are one call away.
• Aim to intercept – respond quickly and professionally to activists on the approach – listen, consider and try to collaborate to avoid going public.
• Update your internal financial projections regularly – based on reasonable assumptions – to know your standalone value.
• Be prepared ahead of time. Management and Boards should generally understand M&A/proxy procedures and should consider having counsel present to them on M&A Preparedness.

This webinar is suitable for in-house counsel and business leaders of public companies who are interested in learning more on this topic.

Speakers

• Thomas Redekopp, Partner, Dentons
• Jason Saltzman, Partner, Dentons
• Ora Wexler, Partner, Dentons
• Bill Zawada, Vice President, Business Development, Laurel Hill Advisory Group

Accreditation

• LSBC: Each session is eligible for 60 Substantive minutes with the Law Society of British Columbia.
• LSO: Each session is eligible for 60 Substantive minutes with the Law Society of Ontario.
• Barreau du Québec: In our view, this session would meet the CLE requirements of the Barreau du Québec. Please email Annie Girard to receive a confirmation of attendance.