Recognizing that a cost-effective settlement is often the best solution for all parties, our shareholder activism team works with both activist shareholder groups, as well as incumbent boards and management to craft sensible solutions to complex problems that preserve the company’s long-term value.
When campaigns escalate, our clients are positioned for success in the courts of both law and public opinion, backed up by top-tier legal advice that allows them to act decisively and emerge victorious in a public proxy contest.
Experience and expertise you can trust
Over decades of experience acting for companies, their boards, activist shareholders and other capital markets stakeholders, Miller Thomson’s seasoned professionals have been at the forefront of matters as activist tactics have evolved. Shareholders waging increasingly sophisticated campaigns are now prepared to coordinate with hedge funds, competitors and even the media as they attempt to advance their goals in both public and private channels.
In a fast-changing field, our approach remains steadfast. Whether we are acting for management or dissident shareholders, the members of Miller Thomson’s shareholder activism team meet the high stakes and emotions of an activist mandate with cool heads and “out of the box” solutions leveraging their deep corporate, litigation and securities knowledge to clients’ advantage to deliver practical, results-focused legal solutions tailored to every situation.
Strategic, adaptable counsel
Shareholder activism has become a fixture of the Canadian public company landscape. Most shareholder disputes are resolved in advance and out of the public domain.
This requires experienced counsel who are able to negotiate an optimal behind the scenes settlement, avoiding a costly and public shareholder battle while achieving many of our clients’ key objectives.
When a fight is unavoidable, our team has the depth and tactical agility to identify and implement a winning strategy for any campaign based on a careful analysis of each situation. In order to be successful, these battles are often waged simultaneously in the press, the courts and in front of the securities regulators. Miller Thomson has the multidisciplinary experience and depth to meet this challenge.
Our services
Our team has extensive experience advising incumbent boards and dissident shareholders on a wide range of issues, including:
- Proxy contests
- Hostile takeovers
- Short seller campaigns
- Special committee mandates
- Internal investigations/handling short seller reports
- Whistleblower complaints
- Regulatory compliance issues
Notable matters
- Apollo Health & Beauty Care Inc.: Acted for Apollo founders in their successful campaign to assume control of the board of Acasta Enterprises Inc. (renamed Apollo Healthcare Corp.).
- Apollo Healthcare Corp.: Acted for Apollo in its successful proxy contest with shareholder activist Anson Partners and others.
- Artis REIT: Acted for one of the key Artis REIT shareholders with respect to its contested board change
