Mergers and Acquisitions 2021

Course Date: June 15, 2021

Full Course Materials
Total: 5h 31min
Total Ethics: 1h

Welcome and Land Acknowledgement (9:00 – 9:05)

Sven O. MilelliMcCarthy Tétrault LLP, Vancouver

SPACs: Driving M&A in 2021 (9:05 – 10:00)

  • brief overview of Special Purpose Acquisition Corporations (SPACs) transactions
  • key cross-border considerations
  • recent developments

Gordon N. Cameron Bennett Jones (US) LLP, New York
Christian P. Gauthier
Bennett Jones LLP, Vancouver
Zachary Judd Latham & Watkins LLP, Chicago

BREAK (10:00 – 10:10)

Escrow, Earnout, and Holdback Trends in Private M&A (10:10 – 11:10)

  • escrow
  • earnouts
  • holdbacks

J-P Bogden Blake, Cassels & Graydon LLP, Vancouver
Rianna Ritchie Blake, Cassels & Graydon LLP, Vancouver

BREAK (11:10 – 11:20)

Practice Update: Special Committees (11:20 – 12:20)

  • impact following implementation of CSA Notice 61-302 and enhanced disclosure
  • recent Canadian decisons—lessons learned from Catalyst Capital/iAnthus Capital

Sven O. MilelliMcCarthy Tétrault LLP, Vancouver
Denise Nawata  Farris LLP, Vancouver

LUNCH BREAK (12:20 – 12:50)

Foreign Investment Review/Competition Law Update (12:50 – 1:50)

  • overview of the application of the Competition Act and Investment Canada Act to M&A transactions
  • strategic considerations for merger planning and risk assessments 
  • current trends in Canadian merger control reviews (e.g., efficiencies, non-notifiable mergers, international cooperation)
  • developments in national security review of investments, including heightened scrutiny of SOEs and Canadian businesses in critical industries

Jason Gudofsky McCarthy Tétrault LLP, Toronto
Kate McNeece McCarthy Tetrault LLP, Toronto

BREAK (1:50 – 2:00)

COVID and Busted Deal Litigation: Implications for M&A Practice (2:00 – 3:00)

  • Canada's first busted deal decisionFairstone Financial Holdings v. Duo Bank of Canada
  • the Delaware Chancery Court's decisions in AB Stable VIII LLC v. Maps Hotels and Resorts One LLC et al. and Snow Phipps Group LLC v. KCAKE Acquisitions Inc.
  • salvaging busted deals through re-negotiation
  • drafting takeways for MAC clauses and ordinary course covenants

David Di Paolo Borden Ladner Gervais LLP, Toronto
Fred R. Pletcher Borden Ladner Gervais LLP, Vancouver

BREAK (3:00 – 3:10)

Plans of Arrangement in the Insolvency Context (3:10 – 4:10)

  • Calfrac Well Services—a case study in how plans of arrangement in the insolvency context are reshaping how plans can be used

Gordon R. Chambers Cassels Brock & Blackwell LLP, Vancouver
John T.C. Christian  Cassels Brock & Blackwell LLP, Vancouver 

Closing Remarks (4:10 – 4:15)

Sven O. MilelliMcCarthy Tétrault LLP, Vancouver