AGF Acquires Global Strategy

The latest move in a rapidly consolidating mutual fund industry was played out on August 30, 2000 when AGF Management Ltd. (AGF) and Global Strategy Holdings Inc. (Global) announced that AGF will acquire 100 per cent of the outstanding shares of Global for $438 million and an asset adjustment payment to a maximum of $13 million based on assets under management at closing. The combined company, with total assets of approximately $35 billion under management, will become the seventh-largest mutual fund player in Canada. As part of the transaction, Rothschild Asset Management Ltd. of London, England—which manages some international funds for Global—has agreed to continue to act as an exclusive sub-advisor on international funds.

AGF is represented by Stikeman Elliott with a team that consists of William J. Braithwaite, Karen Jackson, Jennifer Northcote, Kathleen Ward and Gawain Smart. Global Strategy is represented by Torys with a team that includes Jim Turner, Antonella Deo, Amyn Hadibhai, Barnali Choudhury, Hugh O’Reilly, John Unger, Jim Welkoff, Jay Holsten, Karen Malatest, Peter Birkness and Kelly Brown. Rothschild is represented on tax by Shawn Reynolds and David Smith, Q.C., of Davies, Ward and Beck LLP.