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...
Announcement
Alstom to Acquire Bombardier Transportation
Davies is acting as Canadian counsel to Alstom S.A. in its acquisition from Bombardier Inc. and Caisse de dépôt et placement du Québec (CDPQ) of 100% of Bombardier Transportation Inc., valued at €7.15 billion, to be paid through a combination of cash and newly issued Alstom shares.
Pursuant to the terms of the transaction, CDPQ, a highly regarded Québec pension fund manager and strategic investor, will become the largest shareholder of Alstom with 18% of capital.
The transaction will be subject to, among other things, clearance from relevant regulatory authorities and antitrust authorities. Closing is expected in the first half of 2021.
The Davies team working on this transaction includes William Rosenberg, Vincent Mercier, Franziska Ruf, Fotini Gagaoudakis and Olivier Désilets (Corporate/M&A); Brian Bloom (Tax); Alexandria Pike (Environmental); Elisa Kearney, John Bodrug and Jim Dinning (Competition); and Louis-Martin O’Neill and Faiz Lalani (Litigation).
Related
As the Pandemic Abates, Activists Advance: Shareholder Activism Rebounds in Canada
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...
