6 | SHAREHOLDER ACTIVISM Lexpert Special Edition
Braithwaite,
William J.
Stikeman Elliott LLP
(416) 869-5654
wbraithwaite@
stikeman.com
Chair of the fi rm, senior
partner in the Toronto
offi ce and sits on the fi rm's
Executive Committee.
Mr. Braithwaite has a
transactional practice
focusing primarily on
public M&A and also
advises governments
and regulators on
policy matters.
Brender, Mark D.
Osler, Hoskin &
Harcourt LLP
(514) 904-5777
mbrender@osler.com
Mr. Brender's practice
includes domestic and
international tax planning,
corporate reorganizations,
inbound and outbound
mergers and acquisitions/
divestitures, fi nancings,
executive compensation
and estate planning.
Burgoyne,
Terrence R.
Osler, Hoskin &
Harcourt LLP
(416) 862-6601
tburgoyne@osler.com
Mr. Burgoyne advises
Canadian and international
clients on complex,
multi-jurisdictional
transactions, primarily
involving private M&A,
JVs and strategic alliances
in the manufacturing,
fi nancial, travel, retail
and services sectors.
Branchaud, René
Laver y, de Billy, L.L.P.
(514) 877-3040
rbranchaud@laver y.ca
Mr. Branchaud's mining
law practice embraces
corporate structuring,
private placements,
public off erings, stock
exchange listings, joint
venture agreements,
mergers, acquisitions and
corporate governance.
Bugden, Lydia
Stewart McKelvey
(902) 420-3372
lbugden@
stewartmckelvey.com
Ms. Bugden's experience
embraces project
fi nancing, land assembly
and regulator y matters on
energy projects; M&A,
fi nancing, restructuring
and governance for
corporations; and bi-
lateral and syndicated
credit facilities for
banking clients.
Cameron, Gordon K.
Blake, Cassels &
Graydon LLP
(613) 788-2222
gord.cameron@blakes.com
Mr. Cameron's
administrative practice
includes appearing before
the NEB, OEB, CITT
and other federal tribunals.
His commercial litigation
practice embraces public
procurement, contractual
and shareholder disputes,
and employment law.
He was presumably referring to Bill
Ackman, the CEO of Pershing Square
Capital Management who took on CP
Rail, billionaire investor Carl Icahn who
tangoed with Talisman Energy Inc., and
Jana Partners LLC, the US hedge fund
that did battle with Agrium Inc.
Garth Girvan, a senior partner at Mc-
Carthy Tétrault LLP, agrees that certain
elements of the Canadian regime do
make it easier for activists. As for some
kind of US activist invasion, he doesn't
think it's a trend that should have Cana-
dians concerned.
"Although American activists have
been catalysts for change, to the extent
that they eff ect change it o en inures to
the benefi t of the entire shareholder base,
and theoretically to the business commu-
nity and the economy as a whole," Gir-
van says.
"Look at CP. e catalyst was an
American but the company appears
to have gone in a diff erent direction at
Ackman's urging and that's created huge
shareholder value."
If you want to talk about American
activists driving change, there's no better
case in point than Carl Icahn.
When he turned his attention to Talis-
man last year, his actions changed proxy
battles forever — in Canada and every-
where else.
Todd Korol/Reuters
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