When does a major shareholder have to make an offer?
As far as I know, since 2002 at least in Germany it has been regulated that a major shareholder who
has reached more than 30% of the shares must make a public offer to all other shareholders. I think
there is a similar regulation in Canadian law. It is probably higher than the 34% that must now be
reached. Perhaps someone from there can do a quick research and report back.