Jan. 26, 2024 - Important guidance on “acting jointly or in concert” in a proxy contest was provided by the British Columbia Securities Commission (Commission) in NorthWest Copper Corp. (December 22, 2023). The Commission declined to find a joint actor relationship between a dissident and another...
Announcement
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).
Related
Jan. 10, 2024 - What is a spurned seller’s recourse when a buyer walks away from a deal in breach of the purchase agreement? In private M&A, the answer is reasonably straightforward: sue the buyer to close the deal or to recover damages. In public M&A, however, the answer is murky at best. The problem arises...
