private company blackout periods?

hi, I couldn't find an answer to this on Google: if a private company is purchasing a subsidiary of a public company, the public company insiders are subject to blackout periods if they are aware of material news. but if definitive deal was reached, could the private company continue to purchase the public company's securities on the open market after they became aware the deal was finalized? Or are they subject to the same sort of blackout periods? Does anyone know if this is true in general, or specifically in Canada? TIA

Submitted October 20, 2015 at 01:29PM by tomatoesrfun http://ift.tt/1Xihl3R