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I had owned shares in a CDN insurance co...Trilon is my hazy memory and the Bromfmans wanted to buy it out. The Trilon CEO was on TV and said it was a "great return for shareholders" before the "fairness committee" had issued a ruling. He got crucified ( perhaps the other guys had pictures of him with farm animals)
Shareholders turned down the takeover. So they tried again with " a fairness committee" ruling in favor of the takeover, then voting happened. Takeover was approved but the Co is required to post a date for shares to be tendered to the takeover. If by that date > 90% are tendered, then the rest of the shareholders can be squeezed out at the same price, CDN Security REg's.
Unsure what dirty tricks can be played ( dilution etc) right now Sears Canada has had a multi-year legal tussle with their majority shareholder, Sears USA, over Sears USA wanting to take Sears Canada private for cheap ( in the belief of minority Sears Canada shareholders). I'm not a shareholder there and don't know the current status....anyone here a Sears Canada minority shareholder?
Recently i was a shareholder in a geo-thermal Co that had a unsolicitated takeover, CEO got a "Fairness Ruling" and suggested voting for the takeover was not in the best interests of shareholders. So more voted no than voted yes and it never happened. We did end up getting bot out for more $$ later.
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