For almost 20 years, clients have trusted Aaron to deliver strategic solutions for their critical business transactions.
Aaron’s practice focuses on public and private mergers and acquisitions, capital markets and securities, and corporate governance. Canadian and international businesses, underwriters and investors spanning a wide range of industry sectors – including mining, life sciences and financial services – count on Aaron for his business-minded and results-oriented approach to their complex legal issues.
A seasoned and strategic practitioner, Aaron has advised on some of the country’s most high-profile domestic and cross-border transactions, including contested matters such as unsolicited takeover bids and proxy contests, as well as financing transactions, negotiated acquisitions, joint ventures and partnerships.
Well versed in corporate governance, Aaron is regularly called upon to advise boards and board special committees on transactional matters as well as internal investigations and complex governance issues.
Cornerstone Capital Resources Inc.
Acting for Cornerstone Capital Resources Inc. in its response to the hostile bid launched by SolGold plc for Cornerstone, including Cornerstone's proposed requisition of a meeting of SolGold to change the board of SolGold.
Acted as counsel to SEMAFO Inc. in its US$2.1-billion business combination with Endeavour Mining Corporation by way of plan of arrangement under the Business Corporations Act (Québec).
Acted for Glanbia plc, a global nutrition group, in its acquisition of Foodarom Group, a Québec-based specialist flavours solutions business.
Turquoise Hill Resources Ltd.
Acted for Turquoise Hill Resources Ltd. in connection with Pentwater Capital Management's activist campaign and proxy contest with respect to Turquoise Hill's contested 2020 annual and special meeting.
BMO Capital Markets
Acting for BMO Capital Markets, in its fairness opinion to the board of directors of Equinox Gold Corp., regarding its plan of arrangement with Leagold Mining Corporation.
Mantle Ridge LP
Acted for Mantle Ridge LP in its accumulation of a material equity stake in Aramark and subsequent agreement with Aramark providing for the appointment of 6 new directors, including John Zillmer who was also appointed CEO, and Paul Hilal, founder and CEO of Mantle Ridge LP, who was also appointed as Vice Chairman of the board.
BMO Capital Markets
Acted for BMO Capital Markets in connection with substantial issuer bids by each of Power Corporation and Power Financial Corporation by way of a modified Dutch auction.
Lundin Mining Corporation
Acted for Lundin Mining Corporation in its A$4.3-million subscription for 14.3% of the shares of PolarX Limited, which secures an option for Lundin Mining to earn a 51% interest in PolarX's Stellar Project by staged spending of US$24 million on exploration and staged payments to PolarX of US$20 million over three years.
M&G Investment Management Limited
Acted for M&G Investment Management Limited, a U.K.-based investment manager with US$338 billion of assets under management, in its proxy campaign with respect to Methanex Corporation at the company's 2019 annual general meeting. The contest was successfully settled with M&G gaining two seats on the board of Methanex.
Davies Highlights Concerns with Proposals to Modernize Ontario’s Capital Markets
Sept. 09, 2020 - Davies has submitted a comprehensive comment letter to the Capital Markets Modernization Taskforce (Taskforce) in response to the consultation report published by the Taskforce on July 9, 2020 (Report). The Taskforce was formed by the Ontario government in February 2020 with a mandate to review...
In the News
Aaron Atkinson Discusses the Future of Hostile Bids with The Globe and Mail
June 18, 2020 - Following the recent publication of Davies’ report, The Hostile Bid Is Dead. Long Live the Hostile Bid?, The Globe and Mail featured partner and author Aaron Atkinson for his insights on what lies ahead for Canadian public M&A activity in the post-pandemic world. The Davies report...
The Hostile Bid Is Dead. Long Live the Hostile Bid?
June 15, 2020 - With much of the world focused on the immediacy of the COVID-19 pandemic, including its heavy human and economic toll, we have cast our eyes optimistically on the (near, we hope) future when companies regain sufficient confidence to re-enter the public M&A market in large numbers. Although...
In the News
Aaron Atkinson Highlights Need for Improved Corporate Communications in Globe and Mail Op-ed
Jan. 02, 2020 - In an op-ed published in The Globe and Mail, Davies partner Aaron Atkinson sets out communications strategies that boards and management teams can adopt to avoid corporate scandal and promote better decision-making. Read the full article.
Osgoode Professional Development, Advising the Public Company Board of Directors, “Shareholder Activism & Engagement: Strategies and Approaches”; Toronto, ON
Oct. 22, 2019
Davies Governance Insights 2019, contributor
Oct. 03, 2019 - Davies Governance Insights 2019 is a comprehensive report that analyzes the governance trends and issues most important to Canadian public companies. Now in its ninth edition, Governance Insights is designed to be a playbook for navigating the diverse and complex challenges facing...
Osgoode Professional Development, Intensive Course in Canadian Securities Law and Practice, “Mergers & Acquisitions—The Essentials and Emerging Issues”; Toronto, ON
June 12, 2019
Policy Prevails over Fine Print: Successful Ambush in British Columbia Clarifies the Use of Blank Proxies
May 06, 2019 - A recent decision of the British Columbia Supreme Court in Russell v Synex International Inc. (Synex) validated a dissident’s floor nomination and the subsequent election of an entirely new board. Notably, the dissident cast his votes using the authority given to him by...
Moderator, 13D Monitor, Active-Passive Investor Summit, “Serving on a Board as a Result of an Activist's Initiative”; New York, NY
Apr. 16, 2019
The InterOil Saga Continues: Yukon Court of Appeal Asked to Rule on “Fair Value”
Mar. 21, 2019 - ExxonMobil has filed a notice of appeal to the Yukon Court of Appeal, appealing the lower court’s decision in Carlock v ExxonMobil Canada Holdings ULC. In the decision under appeal, the Yukon Supreme Court sided with dissenting shareholders in determining that the fair value of an...
Chambers Canada: Canada’s Leading Lawyers for Business—Corporate/Commercial: Ontario
IFLR1000: The Guide to the World’s Leading Financial Law Firms—Mergers and Acquisitions
The Legal 500 Canada—Corporate and M&A (Recommended); Energy and Natural Resources: Mining (Recommended)
The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Corporate Commercial Law; Corporate Mid-Market; Mergers and Acquisitions
Lexpert Special Edition: Agribusiness and Cannabis
Lexpert Special Edition: Finance and M&A
Lexpert Special Edition: Mining
Lexpert Special Edition: Technology
The Canadian Legal Lexpert Directory—Corporate Commercial Law (Most Frequently Recommended); Corporate Finance and Securities; Corporate Mid-Market (Most Frequently Recommended); Mergers and Acquisitions (Most Frequently Recommended); Mining; Private Equity
The Best Lawyers in Canada—Corporate Governance Practice; Mergers and Acquisitions Law; Securities Law
Lexpert Rising Stars: Leading Lawyers Under 40