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2016/17
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LEXPERT 11
should I buy today if I think it's going to be cheaper to-
morrow — and it doesn't matter if it's a friendly or hos-
tile acquisition.
"I'd like to think we've hit bottom but where's the
evidence? Where's the deal flow ? It's a confidence game.
ere are buying opportunities but people are reluctant
because in many cases they don't know what's going to
happen to the prices, and they're trying to reduce debt
and limit their capital expenditures, making them reluc-
tant to take those risks."
Globally, the only deal that even came close to the eye-
popping numbers of a few years ago was Solvay S.A. Inc.'s
2015 US$6.4-billion purchase of Cytec Industries Inc.
Fraiberg says some reasonably sized deals have been
done recently. He points to China Molybdenum Co.
Ltd.'s agreement to acquire a 56 per cent stake in Tenke
Fungurume Mining S.A. from Arizona-based Freeport‐
McMoRan Inc. for US$2.7-billion.
China Moly, as it's known, also agreed to acquire
Brazil's niobium and phosphates businesses from Anglo
American plc in April for US$1.5 billion.
Both of these are deals on which Osler acted for the
Chinese producer (although neither of them had a Ca-
nadian component) due to a pre-existing relationship
they had with management. "Many Canadian firms get
LEXPERT-RANKED LAWYERS
Bryce, Douglas A. Osler, Hoskin & Harcourt LLP
(416) 862-6465 dbryce@osler.com
Mr. Bryce is Chair of Osler's Mining Group. His practice focuses on M&A and
financing/capital markets transactions, as well as a broad range of general
corporate, disclosure and commercial matters relevant to mining issuers.
Bursey, David W. Bennett Jones LLP
(604) 891-5128 burseyd@bennettjones.com
Mr. Bursey's regulatory practice focuses on natural resource development
and infrastructure, environmental assessment, water resource manage-
ment and Aboriginal law. He advises natural resource industry clients,
First Nations and government agencies
Camp, David K. Borden Ladner Gervais LLP
(604) 640-4104 dcamp@blg.com
Mr. Camp is a member of BLG's Environmental, Municipal, Expropriation
and Regulatory Group. He advises Crown ministries and corporations,
utilities, railways, mining, oil and gas and other resource companies
and developers on First Nations issues.
Canfield, Brian R. Farris, Vaughan,
Wills & Murphy LLP (604) 661-9362 bcanfield@farris.com
Mr. Canfield is a strategic advisor for his resource clients. He is often asked
to handle difficult negotiations, tight timelines or similar challenges for his
resource clients in raising financing, establishing joint ventures, facilitating
regulatory approvals, settling shareholder or other disputes, restructuring
and other matters.
Chadwick, Robert J. Goodmans LLP
(416) 597-4285 rchadwick@goodmans.ca
Mr. Chadwick focuses on corporate, banking, private equity, insolvency and
reorganizations, and M&A law on national, cross-border and international
transactions. He counsels a diverse group of clients, including boards, in
various industries. He has advised on the restructurings of numerous min-
ing, energy, oil and gas and other resource companies and developers.
Chamberlain, Adam Borden Ladner Gervais LLP
(416) 367-6172 achamberlain@blg.com
Mr. Chamberlain's practice encompasses environmental, Aboriginal,
natural resources and other regulatory project requirements. He has acted
for mining companies, governments and Indigenous organizations across
Canada and in the Canadian Arctic. He leads BLG's Team North, Aboriginal
and Climate Change Practice Groups, and the firm's Forestry Law Group
in Toronto.
