Privatization I have posted before there are 3 ways a publicly traded company can be privatized in Canada:
1. Plan Of Arrangement
2. Takeover Bid
3. Amalgamation
It is my opinion that if the management goes the route of Privatization it will be option 1 (Plan of Arrangement).
What is a Plan Of Arrangement ? This from BDO:
"A plan of arrangement is a court-supervised restructuring process carried out by the target public company's governing corporate statute. A plan of arrangement is typically negotiated between the prospective purchaser and a target public company's board of directors. Shareholder approval is required as well as court approval, which requires the court to determine that the terms of the arrangement are “fair and reasonable” to the shareholders of the target company."
As you can see there are government safeguards in this type of Privatization for the shareholders.