Which of the following is NOT a reason why a takeover can be exempted from the Ontario Securities Act?
A)There is limited involvement by shareholders in Ontario.
B)The firm being taken over is private.
C)The acquirer is buying shares from fewer than five shareholders and paying a premium of less than 50 percent over the market price.
D)No more than 5 percent of the shares are purchased through the exchange over a one-year period.

Question

Quizplus · Accepted Answer

The Ontario Securities Act does not exempt a takeover on the basis that the acquirer is buying shares from fewer than five shareholders and paying a premium of less than 50 percent over the market price. This specific condition is not a recognized exemption under the Act.

Which of the Following Is NOT a Reason Why a Takeover