Taylor Woodrow plc Acquires Monarch Development

Taylor Woodrow plc and Monarch Development Corporation (Monarch) announced on May 23, 2000 that all conditions had been satisfied in connection with the $206 million cash offer by Taylor Woodrow (Monarch’s majority shareholder) to acquire all of the minority shares of Monarch. Monarch is one of Canada’s oldest and largest home builders and is engaged in new home construction and residential development in Ontario and Quebec in Canada and in Florida, California and Texas in the United States.

Monarch’s legal team was quaterbacked by David George, Vice-President and General Counsel of Monarch who called on Connie Sugiyama, Steve Erlichman and Greg Ho Yuen at Fasken Martineau DuMoulin LLP in Toronto. Margaret McNee and Kristin Maw of McMillan Binch acted for Taylor Woodrow and Garth Girvan of McCarthy Tétrault advised the independent committee of Monarch’s directors.