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...
Enercare to Be Sold to Brookfield for $4.3 Billion
Davies acted for Enercare Inc., one of North America's largest home and commercial services and energy solutions companies, in its $4.3-billion sale to Brookfield Infrastructure and its institutional partners by way of plan of arrangement.
Under the deal, which received the unanimous approval of Enercare’s board, Brookfield acquired all the issued and outstanding common shares of Enercare for C$29.00 per share. The total deal value included approximately US$630 million of debt that Brookfield assumed.
The Davies team on this transaction included Bill Ainley, Peter Hong, Brett Seifred, Ha Nguyen, Anita Banicevic and Raj Juneja.
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Oct. 20, 2023 - Canadian shareholder activism continued its post-pandemic resurgence into the first half of 2023. Emerging trends include the “activist swarm,” where multiple—yet uncoordinated—activists converge on a single target with competing demands. Activism has also been on the rise in response to M&A...