Magna Panel Discussion
Thursday, March 3 4:00-6:00 p.m.
The Faculty of law will be hosting a roundtable to discuss the collapse of Magna’s dual class share structure, one of the largest change-in-control transactions in Canadian history. Controlling shareholder Frank Stronach received consideration of roughly $1 billion in cash and stock for the sale of his Class B shares, which represented an unprecedented premium of approximately 1800%. The transaction attracted strong opposition from certain institutional shareholders, as well as from Staff of the Ontario Securities Commission (OSC). The OSC ordered the company to provide more disclosure for shareholders in June and, thereafter, the transaction was approved as a plan of arrangement by the Ontario Superior Court in August, 2010.
With generous support from the James Tory Fund for Studies in Business Law, the Roundtable will discuss both the corporate and securities law implications of the transaction. The panel discussion will be held on Thursday, March 3rd, 2011, at 4:00 p.m. in the Bennett Lecture Hall at the University of Toronto, Faculty of Law, located at 78 Queen’s Park. Panellists will include:
- Anita Anand, Faculty of Law, University of Toronto
- Edward Iacobucci, Faculty of Law, University of Toronto
- Jeremy Fraiberg, Osler, Hoskin & Harcourt LLP
- James Tory, Torys LLP
- Ben Zarnett, Goodmans LLP
The discussion will moderated by Carol Hansell, Davies Ward Phillips & Vineberg LLP and the Honourable Frank Iacobucci, Torys LLP.
The panel will begin with paper presentations by Anita Anand and Edward Iacobucci followed by commentary from the guest panelists and general discussion. There is no charge to attend the event which can count towards the Law Society of Upper Canada’s Continuing Professional Development Requirement.
If you are interested in attending, please RSVP to Anita Anand at anita.anand@utoronto.ca.
