Chemtrade Logistics Income Fund in its take-over bid for Canexus Corporation

On March 10, 2017, an indirect, wholly-owned subsidiary of Chemtrade completed its formerly announced acquisition of Canexus by way of take-over bid. Under the offer, Chemtrade acquired all of the issued and outstanding common shares of Canexus Corporation for $1.50 in cash per common share. The offer valued Canexus at an enterprise value of approximately $884 million. The offer was financed with existing cash resources and firm, committed financing from The Bank of Montreal. This is the first take-over bid for a TSX-listed issuer since the new take-over bid regime came into effect earlier this year.

Osler, Hoskin & Harcourt LLP represented Chemtrade with a team that included Jeremy Fraiberg, James Brown, Mary Abbott, Don Gilchrist, Amelia Miao and Robert Khazam (M&A), Michelle Lally (Competition), Joyce Bernasek and Joshua Lam (Banking).