14 LEXPERT
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2018
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WWW.LEXPERT.CA
Erickson, G. Frederick Stikeman Elliott LLP
(403) 266-9016 ferickson@stikeman.com
Mr. Erickson is in Stikeman Elliott's Energy Group. He has experience
in most aspects of the upstream oil and gas, NGL and LNG industries,
including the purchase and sale or development of oil, gas and NGL
pipelines, storage, processing and other upstream, midstream and LNG
facilities. His experience includes the formation of JVs, partnerships
and various synthetic ownership structures.
Engbloom, QC, Robert J. Norton Rose Fulbright Canada LLP
(403) 267-9405 robert.engbloom@nortonrosefulbright.com
Mr. Engbloom advises clients on M&A, transactional, governance and general
business matters. He has acted as lead counsel on a wide variety of significant
transactions and has extensive experience in providing advice on mergers
& acquisitions, reorganizations and related-party transactions as well
as advising boards and special committees on both governance matters
and substantive transactions.
Durdan, F. John Gowling WLG
(519) 575-7535 john.durdan@gowlingwlg.com
Mr. Durdan's practice is divided between Corporate Finance/M&A matters
and technology law matters. He advises on securities law matters and has
extensive experience in public equity financings, private equity and debt
financings, stock option plans and M&A — including domestic, international
and US-Canada cross-border transactions.
Durand, Ronald K. Stikeman Elliott LLP
(416) 869-5542 rdurand@stikeman.com
Mr. Durand is a consulting counsel to the firm for tax matters and former
Head of the Tax Group. He has been involved in numerous divestitures, M&A,
reorganizations, corporate restructurings and financings. He is a lecturer and
speaker for several law schools and other organizations. He was a governor
of the Canadian Tax Foundation and a member of the CBA/CPA Joint
Committee on Taxation.
Dubé, Georges McMillan LLP
(416) 865-7876 georges.dube@mcmillan.ca
Mr. Dubé has extensive experience in public market corporate finance,
take-over bids and M&A transactions in domestic and cross-border context
across a number of industries, including real estate, mining and technology.
Assists with strategic decisions by boards and acts frequently for special
committees and financial advisors in the context of change of control
and related-party transactions.
Doyle, Arthur T. Cox & Palmer
(506) 633-2730 adoyle@coxandpalmer.com
Mr. Doyle's practice includes public-private partnerships, M&A, private-equity
investments, energy and natural resources, financing transactions, corporate
reorganizations and corporate finance/securities. He represents a broad
range of Atlantic Canadian companies, and is involved in national offerings
and other securities-related transactions originating elsewhere in Canada,
the US and abroad.
LEXPERT-RANKED LAWYERS
Cameron Belsher, a partner at McCarthy Té-
trault LLP and head of the firm's M&A group,
says his clients are putting their NAFTA concerns
to one side. ere's "an overwhelming feeling
from our clients of business as usual right now," he
says. "You have to think about [the future of the
trade agreement] — it's going to be a factor, but
right now there's so many other factors lined up
for robust M&A activity [and that's] overweigh-
ing NAFTA considerations."
Belsher identifies three of them. One is the low
Canadian dollar. Another is interest rates, which
are close to historic lows. And the third is the
emergence of private-equity funds sitting on vast
piles of capital and looking for a place to put it.
"e M&A market is as robust as I've seen it since
2006," he says. "We are talking across the board."
"From our clients we don't hear a lot of fear
about NAFTA," says Belsher. Like everybody
else, they're in the dark about how the negotia-
tions will play out, but they're not sitting around
waiting for clarity. From their perspective, it's a
factor in their thinking, but for the time being it's
less important than the immediate drivers of the
economy. "People are focused on the availability
of capital; there's a lot of liquidity in the market so
it's time to build, it's time to grow."
Many of the deals he's worked on involve busi-
nesses started by baby boomers who, as they enter
their 60s and 70s, are looking to sell up. ey've
spent their lives building their companies and
now they want to enjoy the benefits. ese are
strong businesses with good valuations, and pri-
vate-equity funds are enthusiastic buyers — it's a
"perfect storm," he says.
Not everybody is feeling euphoric, though.
Auto parts manufacturers, for example, would
experience significant disruption if NAFTA was
torn up, with Canadian players potentially sub-
jected to penalties for their US exports. Lumber
producers would be similarly disrupted, as would
pulp and paper companies. ose sectors are in
the eye of the storm.
"What I see is that there is considerable uncer-
tainty associated with industries where there is a
"IF NAFTA GETS TORN UP
AND IS NOT REPLACED,
THERE'S GOING TO BE AN IMPACT.
GIVEN THE AMOUNT OF TRADE
CANADA HAS WITH THE US,
IT'S AN ENORMOUS PROPORTION
OF OUR INTERNATIONAL TRADE,
AND IT JUST CUTS ACROSS
SO MANY INDUSTRIES."
- BRIAN GRAVES;
FASKEN MARTINEAU DUMOULIN LLP
