“The best M&A lawyer in Canada bar none. He commands a boardroom, is a great technical lawyer, but is also a counsellor and a deal maker.”
Chambers Canada 2017
Vincent’s deep understanding of the M&A market – Canadian and global – is the reason why public and private sector clients trust him for their most critical transactions, and why boards turn to him when approached by activist investors.
His broad view, practical advice and methodical approach achieve significant success for clients in transactions of all sizes, domestic and international. He advises clients in industries as varied as financial services, communications and media, technology, mining and energy.
Vincent is a former member of our Management Committee. He is the chair of the board for Pathways to Education, a member of the President’s Council of St. Michael’s Hospital in Toronto, a former director of Covenant House Toronto and a former chair of Camp Oochigeas.
The Blackstone Group Inc.
Acted for real estate funds managed by The Blackstone Group Inc. and their affiliates in Blackstone's $6.2-billion all-cash acquisition of Dream Global Real Estate Investment Trust and the separation of its external asset manager, Dream Asset Management.
Acted for TransAlta Corporation in the strategic partnership with Brookfield Renewable Partners and its institutional partners, and the associated $750-million investment by Brookfield in TransAlta to advance TransAlta's transition to clean energy. The investment will occur in two tranches (i) $350 million in the form of exchangeable debentures at first closing expected in May 2019; and (ii) $400 million in the form of redeemable preferred shares at second closing expected in October 2020.
Shaw Communications Inc.
Acted for Shaw Communications Inc. in connection with its sale of Shaw Media Inc. to Corus Entertainment Inc. for $2.65 billion. Shaw Media is the owner of the Global Television Network and 19 specialty channels including HGTV Canada, Food Network Canada and Showcase. Davies acted for Shaw in 2010 on the purchase of these assets from CanWest Global Communications for $2 billion. The proceeds from this sale were used to finance Shaw's acquisition of WIND Mobile for $1.6 billion. Davies acted for WIND Mobile.
Bentall Kennedy (Canada) Limited Partner
Acted for the Bentall Kennedy Group, a premier real estate investment management firm operating in Canada and the United States, in its acquisition by Sun Life Financial Inc. for a purchase price of $560 million.
Acted as Canadian counsel for Stericycle, Inc. in its acquisition of Shred-it International, a global secure information destruction services provider, for US$2.3 billion in cash.
TIO Networks Corp.
Acted for the Special Committee of the board of directors of TIO Networks Corp., in connection with its $304-million acquisition by PayPal Holdings, Inc. TIO is a North American cloud-based multi-channel bill payment processing and receivables management company.
Acted for the Special Committee of the Board of Directors of Ridley Inc., one of the leading commercial animal nutrition companies in North America, in connection with a plan of arrangement under which Alltech, Inc. acquired all of the outstanding stock of Ridley Inc. for total consideration of approximately $521 million.
Ontario Teachers' Pension Plan Board
Acted for Ontario Teachers' Pension Plan Board in connection with its US$500-million equity investment in Hudson's Bay Company to finance the acquisition by Hudson's Bay Company of Saks Incorporated in an all-cash transaction valued at approximately US$2.9 billion including debt, and provided counsel in related governance, shareholder arrangements and subsequent secondary bought deal offering of 4,899,000 common shares of Hudson's Bay Company for aggregate gross proceeds of approximately $115.6 million.
Shaw Communications Inc.
Acted for Shaw Communications Inc. in its $2-billion acquisition through Companies' Creditors Arrangement Act proceedings of the conventional and specialty television business of Canwest Global Communications Corp., now known as Shaw Media.
Reuters Group PLC
Acted as Canadian counsel for Reuters Group PLC in its dual-listed company merger with The Thomson Corporation to create Thomson-Reuters in a transaction valued at US$17.6 billion, creating the first Canadian dual-listed company structure.
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...
Canadian Court Awards Significant Premium to Negotiated Deal Price in Determining “Fair Value”
Feb. 27, 2019 - Note: On March 18, 2019, ExxonMobil filed a notice of appeal to the Yukon Court of Appeal. We will be watching the progress of the appeal and will report on the decision once it is released. The 2017 acquisition of InterOil by ExxonMobil continues to generate cases of interest to M&A participants...
Weed Wars Part III: The Joint Actor Issue
Mar. 23, 2018 - In the recently released joint reasons of the Ontario and Saskatchewan securities commissions in In the Matter of Aurora Cannabis Inc. in respect of the unsolicited takeover bid by Aurora Cannabis Inc. for all the shares of CanniMed Therapeutics Inc., the commissions considered when a...
Weed Wars Part II: Tactical Poison Pills and Lock-up Agreements in Hostile Bids
Mar. 20, 2018 - The Ontario and Saskatchewan securities commissions recently released joint reasons in In the Matter of Aurora Cannabis Inc. in respect of the unsolicited takeover bid by Aurora Cannabis Inc. for all the shares of CanniMed Therapeutics Inc. and CanniMed’s adoption of a shareholder rights...
Boards Beware: Regulators Actively Monitoring Related Party Transactions
July 31, 2017 - On July 27, 2017, staff of the Ontario, Québec, Alberta, Manitoba and New Brunswick securities regulatory authorities offered guidance on the role of boards and special committees and on their process and disclosure obligations in conflict of interest transactions. 1 The Notice is helpful in that...
In the News
Davies Partner Vincent Mercier Discusses the Canadian M&A Outlook for 2016 with BNN’s The Business News
Jan. 20, 2016 - In an interview with BNN ’ s The Business News, Davies partner Vincent Mercier considers trends affecting the outlook for mergers and acquisitions (M&A) in Canada for 2016. Vince shared the following observations with host Amber Kanwar: 2015 ’ s strong results are unlikely to continue into 2016:...
In the News
Making Deals in the Era of Low Oil – Financial Post, National Post
Sept. 24, 2015 - Davies partner Vince Mercier participated in the annual Legal Post mergers & acquisitions roundtable, discussing M&A trends that emerged in 2015, including the effect of the Canadian dollar and the lower price of oil.
In the News
No End in Sight to Deal Frenzy as Cheap Money, Confidence Propel M&A – Financial Post, National Post
Apr. 10, 2015 - In an article that tracks the surge in the value of deal making this year, Davies partner Vince Mercier notes that this upward trend is commensurate with the improved global economic outlook, particularly in the United States.
Chambers Global: The World’s Leading Lawyers for Business—Corporate/M&A (Band 1)
Chambers Canada: Canada’s Leading Lawyers for Business—Corporate/Commercial: Ontario (Band 1)
IFLR1000: The Guide to the World’s Leading Financial Law Firms—Mergers and Acquisitions
The Legal 500 Canada—Corporate and M&A (Leading Lawyer)
The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada—Mergers and Acquisitions; Corporate Commercial Law; Corporate Finance and Securities; Corporate Mid-Market
Lexpert Special Edition: Finance and M&A
Lexpert Special Edition: Technology
Report on Business/Lexpert Special Edition Canada’s Leading Energy Lawyers
Lexpert Guide to US/Canada Cross-Border Lawyers in Canada—Mergers & Acquisitions
The Canadian Legal Lexpert Directory—Mergers and Acquisitions (Most Frequently Recommended); Corporate Finance and Securities (Most Frequently Recommended); Corporate Commercial Law (Most Frequently Recommended); Corporate Mid-Market (Most Frequently Recommended)
The Best Lawyers in Canada—Corporate Law; Corporate Governance Law; Mergers and Acquisitions Law (Lawyer of the Year 2018, Toronto); Securities Law
Who’s Who Legal: Canada—Mergers and Acquisitions (Most Highly Regarded); Capital Markets; Who’s Who Legal: Capital Markets—Debt and Equity; Who’s Who Legal: M&A and Governance—Mergers and Acquisitions (Global Elite Thought Leader)
Expert Guides—Mergers and Acquisitions