CANADA CONTENTS
6.6 Requirement to Obtain Financing p.19 6.7 Types of Deal Security Measures p.19 6.8 Additional Governance Rights p.20 6.9 Voting by Proxy p.20 6.10 Squeeze-Out Mechanisms p.20 6.11 Irrevocable Commitments p.21 7. Disclosure p.21 7.1 Making a Bid Public p.21 7.2 Type of Disclosure Required p.21 7.3 Producing Financial Statements p.21 7.4 Transaction Documents p.22 8. Duties of Directors p.22 8.1 Principal Directors’ Duties p.22 8.2 Special or Ad Hoc Committees p.22 8.3 Business Judgement Rule p.23 8.4 Independent Outside Advice p.23 8.5 Conflicts of Interest p.23 9. Defensive Measures p.24 9.1 Hostile Tender Offers p.24 9.2 Directors’ Use of Defensive Measures p.24 9.3 Common Defensive Measures p.24 9.4 Directors’ Duties p.25 9.5 Directors’ Ability to “Just Say No” p.25 10. Litigation p.25 10.1 Frequency of Litigation p.25 10.2 Stage of Deal p.25 10.3 “Broken-Deal” Disputes p.25 11. Activism p.25 11.1 Shareholder Activism p.25 11.2 Aims of Activists p.26 11.3 Interference With Completion p.26
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