In Canada, what percentage of shares purchased by an investor is considered the takeover threshold signalling that the company is a possible target?

Question

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In Canada, any acquisition of 20% or more of the outstanding voting shares of a company triggers a takeover bid process under Canadian securities laws. This is because an investor who holds 20% or more of the shares would have a significant influence on the company's decision-making processes and could potentially gain control of the company.

In Canada, What Percentage of Shares Purchased by an Investor