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...
Toromont Industries Ltd. Acquires Hewitt Equipment
Davies represented Toromont Industries Ltd., a diversified industrials company providing specialized capital equipment and ongoing support in various sectors, in its $1-billion acquisition of Hewitt Equipment, the Caterpillar equipment dealer for Québec, Western Labrador and the Maritimes.
The acquisition is Toromont’s largest transaction in 56 years, expanding its Caterpillar dealership and strengthening its expertise in the mining, construction, power systems and forestry sectors. Upon close of the acquisition, Toromont’s Caterpillar dealership will operate 120 branches, giving the company one of the largest sales territories in the Caterpillar dealer network.
The Davies team on this transaction included Cam Rusaw, Steve Cutler, Janet Ferrier, Jared Solinger, Sylvie Samson, Xavier Plamondon and Jeffrey Li (M&A); Alexandria Pike and Laura Weingarden (Environmental); Raj Juneja and Andrew Ellis (Tax); David Reiner and Joseph Jarjour (Real Estate); and Jessica Bullock (Pensions/Employment).
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...