Canada: M&A/Private Equity

After a brief dip in popularity in the Canadian public M&A market, contingent value rights, or CVRs, have seen renewed interest as acquirors and target companies look to bridge gaps on value attributable to a future milestone, asset or performance outcome. CVRs provide target shareholders with a contractual right to receive additional consideration post-closing if specified payment triggers are satisfied during their term; they are used to address circumstances where the parties agree on the base value of a company but disagree on specific (and contingent) drivers of value.

In a broad set of proposals announced last week, the Canadian Securities Administrators (CSA) is considering wide-ranging amendments to Canadian securities law.

Can equity investors commence proceedings under the Companies’ Creditors Arrangement Act (CCAA)? Can CCAA relief extend to foreign companies with no business or assets in Canada? Can CCAA relief be granted against entities that are not insolvent? In a precedent-setting decision released on May 11, 2026, the Alberta Court of Appeal held, yes, yes and yes (in appropriate circumstances).

Joint venture financings in real estate present complex challenges for investors, developers, and lenders, from managing separate mortgage rights to addressing value shortfalls and guarantee obligations.

Borden Ladner Gervais S.E.N.C.R.L., S.R.L. (BLG) annonce l'arrivée de Nicholas Nevins et Christian Vieira comme associés au sein de son groupe Droit des sociétés et marchés financiers à Toronto.

On April 30, 2026, Lumina Metals Corp. (TSX: LMCU) ("Lumina Metals" or the "Company") completed its upsized initial public offering and secondary offering of common shares ("Common Shares")...

A recent decision by the Alberta Court of King’s Bench, Intellimedia Limited Partnership v. Jawad, 2026 ABKB 247, illustrates the importance of carefully drafting seller non-competition and non-solicitation clauses in the context of Canadian mergers and acquisitions transactions.

As artificial intelligence becomes embedded in routine business operations, M&A transactions must account for new data security vulnerabilities and compliance risks.

Materiality scrapes are a key risk allocation mechanism in M&A. A recent, and notably rare, Delaware dispute illustrates the complexities that can arise when applying a materiality scrape in practice.