Drop in oil catalyst for activism in Canada: Pro

With the plummeting price of oil, expect more shareholder activism in Canadian companies, David Tawil, president of Maglan Capital, told CNBC on Thursday.

"It's definitely due. There's obviously been a lot of activism here in the United States over the past couple of years," he said in an interview with "Street Signs."

"Up in Canada, clearly the drop of oil is a catalyst for activism."

Activists haven't been strangers to Canada, with names like Carl Ichan, Sandell Asset Management and Orange Capital becoming involved in oil and gas companies.

"There is more to come," Tawil said.

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In fact, "Canada actually affords shareholders a bunch of friendlier circumstances than the United States," he noted.

That includes not having to let the public know about a stake until it reaches 10 percent, as opposed to 5 percent in the U.S.

"You can preserve the element of surprise and act pretty anonymously for a long period of time," Tawil said.

The requirements for calling a special meeting for shareholders are also less rigorous than in the U.S., he said.

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