Sept. 30, 2019 - Canada’s Competition Bureau is actively seeking and reviewing smaller acquisitions that may not exceed pre-merger notification thresholds under the Competition Act but that may nonetheless raise substantive competition issues. The Bureau’s demonstrated interest in evaluating smaller mergers...
Sentry Investments Corp. Selling All Outstanding Shares to CI Financial Corp.
Davies represented Sentry Investments Corp. (Sentry), one of Canada’s leading independent investment managers, in its $780-million acquisition by CI Financial Corp.
The acquisition combined two of Canada’s largest independent active asset managers and increased CI’s assets under management by 16% to approximately $140 billion when it acquired all of the outstanding shares of Sentry and its subsidiary Sentry Investments Inc.
In exchange, $780 million was payable to Sentry – $230 million in cash and the balance in CI shares.
Aug. 14, 2019 - The Tribunal administratif des marchés financiers (Québec’s securities tribunal) issued a split 2–1 decision resulting in a cease trade order on an offer made by Group Mach to acquire 19.5% of Transat A.T. Inc. ’s shares. Certain features of Group Mach’s mini-tender, which was designed to potentially...