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31 December 2010

Teresa Tomchak Appears In Report On Business Article On Poison Pills

Teresa Tomchak, who was part of the team representing a group of entities controlled by Carl Icahn in successfully obtaining orders to cease trade poison pills, and a successful appeal from the same, during its $800 million hostile takeover bid for Lions Gate Entertainment Corp., is quoted in an article in the December issue of the Globe and Mail’s Report on Business Magazine.

The article discusses how the decision of the BC Securities Commission in cease trading the shareholder rights plan (also known as a poison pill) instituted by Lions Gate represented an apparent departure from recent decisions of the Ontario and Alberta Securities Commissions which had suggested that a target board could “just say no” to a hostile takeover bid. The BC Securities Commission relied heavily on National Policy 62-202 Take-Over Bids – Defensive Tactics and expressed concerns about decisions that represent a departure from that policy.

To view a copy of the article please click here.

To contact Teresa Tomchak please email her at .(JavaScript must be enabled to view this email address).

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