McCarthy Tetrault | Canadian M&A Perspectives
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McCarthy Tetrault handles hundreds of M&A and private equity deals, year after year. Our team is consistently ranked as one of Canada's most experienced, based on the volume and value of our announced and completed deals, both domestic and cross-border. In Canada, we are involved in a large number of the country's most important transactions.
McCarthy Tetrault | Canadian M&A Perspectives
5d ago
On April 16, 2024, Canada’s Deputy Prime Minister and Minister of Finance, Chrystia Freeland, delivered the Liberal Government’s federal budget, Fairness for Every Generation (Budget 2024). The most notable tax measure in Budget 2024 is the proposal to increase the capital gains inclusion rate from one-half to two-thirds, for capital gains realized on or after June 25, 2024. This measure will apply to all capital gains realized by corporations and trusts, but only will apply to individuals in respect of the portion of capital gains realized in the year that exceeds $250,000 ..read more
McCarthy Tetrault | Canadian M&A Perspectives
5M ago
Earn out provisions have become increasingly popular in Canadian private M&A transactions, appearing in 33% of surveyed deals in 2021.[1] They are intended to provide a “win-win” scenario for buyers and sellers. Earn outs are especially useful to bridge a valuation gap between the seller and buyer or to incentivize a seller to continue with the business post-closing. In our experience, earn out provisions in M&A agreements are growing in complexity, resulting in a higher risk of disputes among buyers and sellers when it comes time to measure whether an earn out will ultimately be ..read more
McCarthy Tetrault | Canadian M&A Perspectives
5M ago
Just last week, Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and Constellation Brands, Inc. (NYSE: STZ and STZ.B) announced the completion of a transaction that was a ..read more
McCarthy Tetrault | Canadian M&A Perspectives
5M ago
Earlier this month, in Akorn, Inc. v. Fresenius Kabi A.G., the Delaware Court of Chancery sustained a would-be buyer’s termination of a merger agreement because, among ot ..read more
McCarthy Tetrault | Canadian M&A Perspectives
6M ago
Sophisticated buyers and sellers in M&A transactions should consider what rules will govern the target company’s and the seller’s legal privilege post-closing. For instance, should privilege belong to the seller or remain with the target company (and therefore the buyer)? Should privilege over some matters be transferred but not others? Do different considerations apply to asset transactions? This article provides important takeaways on such questions, informed by recent Canadian litigation ..read more
McCarthy Tetrault | Canadian M&A Perspectives
7M ago
McCarthy Tetrault | Canadian M&A Perspectives
7M ago
The Toronto Stock Exchange (TSX) recently published new guidance which enhances a TSX-listed issuer’s ability to increase the number of securities that it can offer and ..read more
McCarthy Tetrault | Canadian M&A Perspectives
7M ago
The Canadian Venture Capital and Private Equity Association (CVCA) recently released its H1 2018 VC & PE Canadian Market Overview (the Report). The Report highlights ..read more
McCarthy Tetrault | Canadian M&A Perspectives
8M ago
McCarthy Tetrault | Canadian M&A Perspectives
1y ago
A recent decision, Taiga Gold Corp. v. Munday, provides a harsh warning for anyone seeking to challenge a plan of arrangement: it will be very difficult to unwind a transaction that has closed — even if it should never have been approved by the court in the first place.
In late 2021, Taiga Gold Corp. (“Taiga”) sought court approval of a plan of arrangement by which SGO Mining Inc. would acquire all of the outstanding shares, warrants, and options of Taiga. As is typically the case for plans of arrangement under Canadian corporate statutes, Taiga obtained an interim order from the Court specify ..read more