Montréal, June 7, 2013 ‒ The Board of Trade of Metropolitan Montreal welcomes the Government of Québec’s decision to create a task force to propose measures to protect Québec businesses from foreign hostile takeover bids. The president and CEO of the Board of Trade, Michel Leblanc, has accepted the invitation from the Minister of Finance and the Economy, Nicolas Marceau, to join the task force.
“Many stakeholders have pointed out in recent months that publicly listed companies in Québec are more vulnerable to hostile takeovers than their counterparts in the rest of North America,” says Michel Leblanc, president and CEO of the Board of Trade of Metropolitan Montreal. “Like the government, the Montréal business community is concerned about this situation. This is why we accepted the Government of Québec’s invitation to examine what can be done to better protect local businesses in the event of hostile takeover attempts, while respecting international law and the principles of equity in terms of investment and the financial markets.”
About the Board of Trade of Metropolitan Montreal
The Board of Trade of Metropolitan Montreal is made up of some 7,000 members. Its mission is to represent the interests of the business community of Greater Montréal and to provide individuals, merchants, and local businesses of all sizes with a variety of specialized services to help them achieve their full potential in terms of innovation, productivity, and competitiveness. The Board of Trade is Quebec's leading private economic development organization.
Advisor, Media Relations
Board of Trade of Metropolitan Montreal
Phone: 514 871-4000, extension 4015
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