Lexpert magazine features articles and columns on developments in legal practice management, deals and lawsuits of interest in Canada, the law and business issues of interest to legal professionals and businesses that purchase legal services.
Issue link: https://digital.carswellmedia.com/i/1518995
38 www.lexpert.ca Canadian Law Awards Cameco Corporation's partnership with Brookfield Renewable for Westinghouse Electric Company $10.861 billion acquisition Borden Ladner Gervais LLP McCarthy Tétrault LLP (for Cameco Corporation) Stikeman Elliott LLP (for Westinghouse Electric Company) Torys LLP Pan American Silver Corp. and Agnico Eagle Mines' $6.59 billion joint acquisition of Yamana Gold Inc. Borden Ladner Gervais LLP (lead counsel for Pan American Silver Corp.) Cassels Brock & Blackwell LLP (for Yamana Gold Inc.) Davies Ward Phillips & Vineberg LLP (lead counsel for Agnico Eagle Mines Limited) Norton Rose Fulbright Canada LLP (for Yamana Gold Inc.) Rogers Communications' $26 billion acquisition of Shaw Communications Bennett Jones LLP Burnett Duckworth & Palmer LLP Davies Ward Phillips & Vineberg LLP (lead counsel for Shaw Communications Inc.) Dentons Canada LLP Goodmans LLP (lead counsel for Rogers Communications Inc.) Lax O'Sullivan Lisus Gottlieb LLP McCarthy Tétrault LLP (for Bank of America NA and Bank of America Securities Inc. ) Smith Financial Corporation's US$1.7 billion acquisition of Home Capital Stikeman Elliott LLP (for Smith Financial Corporation) Torys LLP (for Home Capital) Strathcona Resources' $8.6 billion acquisition of Pipestone Energy Bennett Jones LLP (for Riverstone Pipestone) Blake Cassels & Graydon LLP (lead counsel for Strathcona Resources Ltd.) McCarthy Tétrault LLP (for Pipestone Energy Corp.) Stikeman Elliott LLP (for Waterous Energy Fund) TotalEnergies' $5.5 billion sale of its Canadian oil and gas assets Blake Cassels & Graydon LLP (lead for Suncor Energy) Osler Hoskin & Harcourt LLP (lead for Conoco) Torys LLP (lead for TotalEnergies) John Mercury and John Lawless, acted as legal counsel to River Pipestone, which is the largest shareholder of Pipestone Energ y. Stikeman Elliott acted for Waterous Energ y Fund with lead law yer Leland Corbett. This deal required the navigation of difficult legal issues, principally arising from the significant concentration of Pipestone shares held by a very small number of large institutional share- holders, each of whom had different views and approaches to the transaction. e final Excellence Awardee in the M&A of the Year category involved TotalEnergies' $5.5 billion sale of its Canadian oil and gas assets. In April 2023, TotalEnergies and Suncor entered into an agreement wherein Suncor would acquire TotalEnergies Canada, including its shares in the Fort Hills oil sands project and the Surmont oil sands project and associated midstream commitments, for $5.5 billion (US$4.1 billion). is original transaction trig- gered a preemption right in favour of US- based ConocoPhillips to purchase the Surmont Interest. In May 2023, ConocoPhillips noti- fied TotalEnergies that it would exer- cise its preemption right, resulting in TotalEnergies Canada selling the Surmont Interest to ConocoPhillips for $4.03 billion (US$3 billion). Following ConocoPhillips' exercise of its preemption right, TotalEnergies and Suncor renego- tiated, which resulted in TotalEnergies selling the entirety of the shares of TotalEnergies Canada to Suncor for $1.47 billion (US$1.1 billion). Torys, led by partners Derek Flaman and Craig Maurice, acted as legal counsel to TotalEnergies. Blakes, led by part- ners Chris Harris and Peter Keohane, assisted Suncor Energ y. Osler advised ConocoPhillips with a team led by Janice Buckingham. Blakes, led by Olga Kary and Kevin Kerr, acted as legal counsel to Strathcona Resources. Alyson Goldman led the McCarthy Tétrault team in assisting Pipestone Energy. Bennett Jones, led by CANADIAN LAW FIRM INVOLVEMENT (CLIENT) Valued at $8.6 billion, this transaction made its mark in the energy landscape as one of the largest public company offerings in the Canadian energy sector in the past two decades. M&A DEAL OF THE YEAR