LEXPERT MAGAZINE
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SEPTEMBER
/
OCTOBER 2018 17
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CORPORATE TRANSACTIONS OF IMPORTANCE
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AURORA CANNABIS
ACQUIRES CANNIMED
THERAPEUTICS
CLOSING DATE: MAY 2, 2018
On May 2, 2018, Aurora Cannabis
(TSX:ACB) (OTCQB:ACBFF) (Frank-
furt: 21P; WKN:A1C4WM) completed
its $1.23 billion (US$950 million) takeover
bid for all of the outstanding shares Can-
niMed erapeutics Inc. (TSX: CMED).
is transaction represents the largest to date
(completed) acquisition for the Canadian
cannabis sector.
In addition to product synergies and
broader product portfolio, the combination
also provides for expanded geographies.
e CanniMed Shares were acquired for
consideration of approximately 72.7 million
Aurora shares and $140 million in cash.
e CanniMed Shares were de-listed from
the Toronto Stock Exchange at the close of
business on May 1, 2018.
McMillan LLP acted as counsel to Au-
rora Cannabis with a team led by Desmond
Balakrishnan and comprising Cory Kent,
Leo Raffin, Paul Davis, Ravipal Bains, Leila
Rafi and Kosta Kostic (capital markets and
M&A), Herb Ono (US Securities), Geoff
Moysa, Brett Harrison and Charlotte Con-
lin (litigation), Peter Botz (tax), Francois
Tougas and Ryan Gallagher (competition),
with assistance from Dorsey & Whitney
LLP (US tax and securities).
Borden Ladner Gervais LLP acted as
counsel to CanniMed erapeutics with
a team led by Philippe Tardif and that in-
cluded Jason Saltzman, Andrew Powers,
Mark Wheeler, Colin Cameron-Vendrig,
Pierre Permingeat, Joseph Di Ponio, Rocky
Swanson (capital markets and M&A), Denes
Rothschild (competition), Danny Lang
(tax), Jim Douglas, Cait Sainsbury, Graham
Splawski and Ashley omassen (litigation),
with assistance from Dickinson Wright
LLP (US corporate and securities).
Stikeman Elliott LLP acted as counsel to
the special committee of the board of direc-
tors of CanniMed erapeutics with a team
led by Donald Belovich and comprising Si-
mon Romano, Mihkel Voore, Ryan Kirvan,
Logan Copen, David Tardif, Victor MacDi-
armid, Spencer Burger, Peter Buckles (M&A
and securities), Peter Howard, Samaneh
Hosseini, Sinziana Hennig, Zev Smith (liti-
gation), Michael Kilby (competition) and
Dean Kraus (tax).
PAYSAFE COMPLETES
ACQUISITION OF IPAYMENT
CLOSING DATE: JUNE 1, 2018
On June 1, 2018, Paysafe Group (Paysafe), a
leading global payments provider, completed
the acquisition of iPayment Holdings Inc.
(iPayment), a US-based provider of payment
and processing solutions for small and medi-
um-sized businesses.
RBC Capital Markets, LLC acted as fi-
nancial advisor to Paysafe on the acquisition
and J.P. Morgan Securities LLC acted as ex-
clusive financial advisor to iPayment's board
of directors.
Paysafe was represented by an in-house
team led by Elliott Wiseman, General Coun-
sel and Chief Compliance Officer, and by a
team from Stikeman Elliott LLP that in-
cluded Warren Katz, Dana Borshy, Laurence
Cromp-Lapierre, Michael Ball and Chelsea
Pellegrino (M&A).
Latham & Watkins LLP represented
Paysafe in respect of the debt and equity fi-
nancing of the acquisition with a team led by
corporate partners David Walker and Kem
Ihenacho and finance partner Jay Sadanan-
dan with associates Joseph Kimberling, Neil
Campbell, Hayden Teo and Suneel Basson-
Bhatoa. Credit Suisse also provided financial
advice to Paysafe and led the debt financing.
Paysafe was represented in the US by a
team from Paul Hastings LLP that included
Meagan Olsen and Nausheen Shaikh (corpo-
rate), Behnam Dayanim and Sara Weed (fi-
nancial services regulatory), Stephen Harris
(employment and benefits) and Michael wise
(antitrust), as well as by Melissa DiVincenzo
and omas Briggs from Morris, Nichols,
Arsht & Tunnell LLP for matters of Dela-
ware law.
iPayment was represented by an in-house
team led by Philip Ragona, Executive Vice
President and General Counsel, and by a
team from Gibson, Dunn & Crutcher LLP
that included Richard Birns, Daniel Alter-
baum and Pavel Shaitanoff (M&A), Andrew
Cheng and Emily Speak (financing) and
Michael Collins (employment and benefits),
as well as by Mark Gentile and Nathaniel
Stuhlmiller from Richards, Layton & Fin-
ger, PA for matters of Delaware law.
MINTO APARTMENT REIT
COMPLETES $230M IPO
CLOSING DATE: JULY 3, 2018
Minto Apartment Real Estate Investment
Trust (the REIT) (TSX: MI.UN) completed
its initial public offering of 15,863,100 trust
units at a price of $14.50 per unit (the Offer-
ing). e Offering raised gross proceeds of
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