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Ottawa, July 11, 1997
1997-058
Government Releases Task Force Views on Mergers and Acquisitions
Related documents:
- Letter from Pierre Y. Ducros, Interim Chairman of the Task Force.
- Report of the Task Force on the Future of the Canadian Financial Services Sector in response to a request by the Secretary of State (International Financial Institutions).
Secretary of State (International Financial Institutions) Jim Peterson today released the response of the Task Force on the Future of the Canadian Financial Services Sector to the government's June 24 request for the Task Force's preliminary views on the appropriate criteria for assessing proposed mergers and acquisitions in the financial sector.
The Task Force proposes a framework that is generally applicable to transactions other than those between Schedule I banks. It outlines a process for reviewing specific transactions, and suggests a number of criteria that should be considered in such assessments.
Mr. Peterson said, "I commend the Task Force for responding to my request in such a timely manner. While I recognize that it reflects their preliminary views, I value their advice on this important matter."
"I am releasing their response today because I believe the public should be aware of the complex and difficult issues before us. I will be reviewing the Task Force recommendations carefully. Their views will provide valuable input to the process of assessing proposed transactions. The Minister of Finance and I very much look forward to receiving the final report of the Task Force in September, 1998," he added.
The response, endorsed by all the Task Force members, was sent to Mr. Peterson today by Interim Chairman Pierre Ducros.
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For further information:
Doug Secord
Special Assistant to the Secretary of State
(International Financial Institutions)
(613) 992-6670
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| Last Updated: 2005-01-04 |
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