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/1544329
38 www.lexpert.ca Canadian Law Awards Royal Gold's $5 billion acquisition of Sandstorm Gold and Horizon Copper Blake, Cassels & Graydon LLP (for the special committee of Horizon Copper) Borden Ladner Gervais LLP (for National Bank Financial Inc) Cassels Brock & Blackwell LLP (for Sandstorm Gold) Fasken Martineau DuMoulin LLP (for the special committee of Sandstorm Gold) Gowling WLG (for Horizon Copper) McCarthy Tétrault LLP (for Royal Gold Inc.) GardaWorld's $14 billion recapitalization Langlois Lawyers LLP (for GardaWorld) Osler, Hoskin & Harcourt LLP (for BC Partners) Stikeman Elliott LLP (for HPS Investment Partners) La Caisse's $10 billion acquisition of Innergex Renewables Blake, Cassels & Graydon LLP (for Investissement Quebec) Borden Ladner Gervais LLP (for The Toronto-Dominion Bank) Fasken Martineau DuMoulin LLP (for La Caisse) McCarthy Tétrault LLP (for Innergex) Norton Rose Fulbright Canada LLP (for Innergex Renewable Energy board of directors' special committee) Osler, Hoskin & Harcourt LLP (for Innergex management group) Strathcona Resources' hostile takeover bid and Cenovus Energy's acquisition of MEG Energy Blake, Cassels & Graydon LLP (for Strathcona Resources) Borden Ladner Gervais LLP (for BMO Capital Markets) Burnet, Duckworth & Palmer LLP (for MEG Energy) Davies Ward Phillips & Vineberg LLP Jensen Shawa Solomon Duguid Hawkes LLP McCarthy Tétrault LLP (for Cenovus Energy) Norton Rose Fulbright Canada LLP (for the special committee of MEG Energy) Osler, Hoskin & Harcourt LLP (for RBC and Goldman Sachs) Torys LLP (for Strathcona Resources special committee of independent directors) Whitecap Resources' $15 billion merger with Veren Blake, Cassels & Graydon LLP (for Veren special committee) Burnet, Duckworth & Palmer LLP (for Whitecap Resources) Norton Rose Fulbright Canada LLP (for Veren) Torys LLP (for Scotiabank) Parkland Corporation's $13 billion sale to Sunoco LP McCarthy Tétrault LLP (for Parkland Corporation) Norton Rose Fulbright Canada LLP (for Parkland Corporation) Osler, Hoskin & Harcourt LLP (for BMO) Stikeman Elliott LLP (for Sunoco) Torys LLP (for the special committee of Parkland Corporation) CANADIAN LAW FIRM INVOLVEMENT (CLIENT) and Tim McCormick, acted for BMO. Osler, led by Alex Gorka and Manny Press- man, acted for RBC and Goldman Sachs. GardaWorld's $14 billion recapitaliza- tion stands as the largest ever completed in Canada. e transaction resulted in founder Stephan Cretier and 90 members of senior management collectively holding approximately 70 percent of the company, with HPS Investment Partners, Oak Hill Advisors, and other institutional inves- tors holding the remaining equity along- side BC Partners. e deal included the amendment and issuance of PIK Notes to- talling approximately US$1.7 billion and required a multi-phase tax plan comprising approximately 20 sequential steps. Langlois Lawyers LLP, led by Pierre-Hubert Seguin, served as lead counsel. Stikeman Elliott, led by Jeff Hershenfield, acted for HPS, and Osler, led by Shahir Guindi and Hugo-Pierre Gagnon, advised BC Partners. Royal Gold's $5 billion acquisition of Sandstorm Gold and Horizon Copper was structured as two separate, inter-condi- tional plans of arrangement under British Columbia's Business Corporations Act, a rare concurrent structure with limited Canadian precedent. e share-for-share exchange for Sandstorm and the cash ac- quisition of Horizon required navigat- ing governance challenges arising from Sandstorm's approximately 30 percent stake in Horizon and overlapping man- agement teams. McCarthy Tétrault, led by Roger Taplin, acted as lead Canadian counsel to Royal Gold. Cassels represented Sandstorm. Gowling WLG, led by Kathleen Ritchie, advised Horizon Copper, and Blakes, led by Susan Tomaine, represented the special committee. Fasken served as counsel for the special committee of Sandstorm. ese transactions set benchmarks for Canadian dealmaking , demonstrating the evolving complexity of corporate acqui- sitions, energ y consolidations, and cross- border structuring in a dynamic market. M&A DEAL OF THE YEAR