Even years later, the 2012 proxy battle between Canadian Pacific Railway (CP) and Pershing Square Capital reigns as Canada’s preeminent shareholder activist event. At the time, being named a member of CP’s board was one of the most distinguished honors bestowed upon members of the Canadian business community. Disrupting this privilege was inconceivable to most.
Be that as it may, Pershing Square Capital, led by Bill Ackman, forged ahead with its plan and acquired enough shareholder support that six of CP’s directors announced their resignations before the shareholder vote was complete.
In this article from Insightia, a Diligent brand, Josh Black discusses this epic proxy contest in depth, examining its lasting effect on the country’s future shareholder-activist campaigns, director empowerment and the Canadian business landscape.
Find out more by downloading 10 Years After: The Proxy Contest at Canadian Pacific Railway Reverberates to this Day now.
