This article posted on our partner site is relevant for TSX-V public companies because it sets out the relevant factors that a board of directors should consider when making the decision to announce such as will the M&A process benefit from awareness? More specifically, the article expands on the strategic understanding concerning share price considerations, M&A process considerations and legal considerations. Of interest is the discussion of a 2008 Ontario Securities Commission decision where it was determined that “an intention to do something was not necessarily sufficient to trigger an obligation to disclose if there are factors that are beyond the control of the company that prevent completion of the intention”.