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Canada Corporate Sales Transactions

Stikeman Elliott LLP

Recent Québec Court of Appeal Decision Highlights the Importance of Clear Drafting for Earnouts

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Ambiguous drafting of earnout provisions in M&A agreements is a perennial source of post-closing disputes. What may have seemed clear to parties in the heat of negotiations can often become less so as time passes,...more

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Shifting the Burden: Proposed Changes to Merger Reviews in Canada

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Canadian businesses may soon face tougher standards in merger review if amendments being considered by the government to include “structural presumptions” and more onerous remedy standards in merger reviews are passed into...more

Stikeman Elliott LLP

Corporate Finance and M&A in Québec: Staying Active

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Though 2023 ended in much the same way as it began, with global geopolitical instability and high interest rates, investment in Québec has remained active, particularly in the Montréal area. This post breaks down some of the...more

Stikeman Elliott LLP

Mergers & Acquisitions 2024 Canada

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1 Relevant Authorities and Legislation - 1.1 What regulates M&A? The acquisition of a Canadian public issuer is largely regulated by, but not limited to, the following: ■ securities laws enacted by each of...more

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Increased Investment Canada Act Review Thresholds Announced for 2024

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The Canadian government has increased the monetary thresholds to determine whether a net benefit review of a foreign investment in Canada is required under the Investment Canada Act for 2024. All acquisitions of control of...more

Stikeman Elliott LLP

Ongoing Public Interest Review of Bunge/Viterra: Key Takeaways for Canadian Businesses

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Given the Canadian government’s increasing scrutiny over M&A activity in the food, transportation and critical infrastructure sectors, Canadian businesses operating in these sectors should plan accordingly and remain prepared...more

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Merger Control 2024 Canada

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1 Relevant Authorities and Legislation - 1.1 Who is/are the relevant merger authority(ies)? If relevant, please include details of: (i) independence from government; (ii) who the senior decision-makers are (e.g. Chair,...more

Stikeman Elliott LLP

Corporate Finance and M&A in Québec: Finding the Bright Spots in a Challenging Year

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In 2023, private equity, mergers and acquisitions and venture capital financings have experienced a slowdown across Canada, on the heels of a historically strong year in 2022. In this post we look specifically at the province...more

Stikeman Elliott LLP

Commissioner Wins Secure Energy Appeal: Key Takeaways

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The Federal Court of Appeal’s recent decision upholding the Commissioner of Competition’s largely successful challenge of Secure Energy Services Inc.’s acquisition of Tervita Corporation provides further evidence that the...more

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Merger Control 2023 Canada

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Relevant Authorities and Legislation - 1.1 - Who is/are the relevant merger authority(ies)? The Competition Bureau (the “Bureau”) is an independent, federal law enforcement agency responsible for the administration...more

Stikeman Elliott LLP

Merger Control in Canada: Overview

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A Q&A guide to merger control in Canada. This Q&A is part of the global guide to merger control. Areas covered include the regulatory framework, regulatory authorities, relevant triggering events and thresholds. Also...more

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British Columbia Court of Appeal Says Shotgun Offer Can’t Be Revoked

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Be careful before you pull the trigger – this is the main takeaway from the recent decision of Blackmore Management Inc. v. Carmanah Management Corporation, in which the British Columbia Court of Appeal (BCCA) concluded that...more

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“Commercially Reasonable Best Efforts”: B.C. Court Provides Guidance in Context of Purchase and Sale Contract

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In Sutter Hill Management Corporation v. Mpire Capital Corporation (Sutter), the British Columbia Court of Appeal found that the acquiror of an Abbotsford, B.C. care home had breached the purchase and sale agreement by...more

Stikeman Elliott LLP

Ontario Court Approves of Use of Reverse Vesting Transactions and Provides Guidance for Future Transactions

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The Ontario Superior Court of Justice (Commercial List) (the “Court”) in Re Harte Gold Corp., issued its first published decision on the use of reverse vesting orders (“RVOs”) finding that the Companies’ Creditors Arrangement...more

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Competition Act Pre-Merger Notification Threshold Remains Unchanged for 2022

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Despite an increase in gross domestic product in 2021, the Canadian government has left the threshold for pre-merger notification under the Competition Act unchanged for 2022 at C$93 million in Canadian assets or revenues....more

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Private Equity - Recent Developments Of Importance

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The first nine months of 2021 set records for global M&A activity and kept private equity firms especially busy. An abundance of dry powder and low interest rates have encouraged private equity investors to make up for lost...more

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Merger Control 2022

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1. Relevant Authorities and Legislation - 1.1. Who is/are the relevant merger authority(ies)? The Competition Bureau (the “Bureau”) is an independent, federal law enforcement agency responsible for the administration...more

Davies Ward Phillips & Vineberg LLP

Canadian Mergers & Acquisitions: A Guide for Foreign Investment Banks and Bidders, 9th Edition

Types of M&A Transactions – – Takeover bids (like a U.S. tender offer) – Plans of arrangement – Amalgamations (like a U.S. merger) – Asset sales – Share sales (e.g., private purchase of control block) –...more

Bennett Jones LLP

The Strategic Value of Transaction Insurance

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When we provided our thoughts on representation and warranty insurance (RWI) this time last year (Getting a Deal to Closing with Transaction Insurance), we anticipated that RWI would continue to grow in prevalence in the...more

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Crossing the M&A Finish Line when Selling Your Business

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In a trending discussion on Linkedin.com from the Business Succession Canada group shared by R. John Dolbec, Doug Robbins provides an excellent overview on selling a business and aptly likens the process to running a marathon...more

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Does Your Alberta-related Deal Trigger Foreign Ownership of Land Regulations?

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There is no doubt that the Agricultural and Recreational Land Ownership Act and Foreign Ownership of Land Regulations are a mouthful, but they may not always be top of mind when considering buying or leasing land in Alberta,...more

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