Leon's Furniture completed its takeover of The Brick in a deal with a value of about $700 million. Leon's is now the largest furniture, mattress and major appliance retailer in Canada with annual sales of $2.4 billion.
Leon's acquired all outstanding common shares of The Brick for $5.40 each and The Brick repurchased all outstanding common share purchase warrants for $4.40 each. Security holders had the right to receive up to an aggregate of $100 million of Leon's convertible debentures instead of cash. These were fully taken up at closing.
With the completion of the acquisition, The Brick's common shares and common share purchase warrants ceased to be listed on the Toronto Stock Exchange effective April 1, 2013.
Leon's was represented by its General Counsel, John Cooney and by McCarthy Tétrault LLP with a team led by David Tennant, Lara Nathans and Rob Hansen, and including Victoria Seth, Stephanie Yarmo, Richard O'Doherty, Leila Rafi, and Puja Inamdar (corporate finance and M&A); Gordon Baird, Ian Mak, Laura Hage, Sarah Bird, Kevin Wright, Justin Lapedus, Laurent Gauthier, Shauna Crothers, Stephen Curran (financial services); Geoff Hall (litigation); Donald Houston, Oliver Borgers, Michele Siu, Jonathan Bitran (competition); Trevor Lawson, Benjamin Aberant (labour & employment); Jamie Orzech, Carolyn Ruby, William McCullough, Annie Gagnon-Larocque, Charles Flicker and Craig Shirreff, Conrad Rego, Andrejs Mistiouk, Brad Nicpon, Marie-Josée Marcoux, Ashley Bozek, Patrick Kee, Vanessa Lunday (real property) and Patrick McCay, Gabrielle Richards and Mark Firman (tax).
The Brick was represented by its General Counsel, Greg Nakonechny, and by Blake, Cassels & Graydon LLP with a team including Chris Hewat, Tim Andison, Catherine Youdan, Saad Ahmad, Neil Lacroix and Jacob Gofman (M&A/Securities); Calvin Goldman, QC; Debbie Salzberger and Joshua Krane (competition); Ryan Morris (litigation); Lauren Temple (real estate) and Chris Van Loan and Ilan Braude (tax).
Fairfax Financial Holdings Limited was represented by Torys LLP with a team led by David Chaikof and included Tom Yeo, Tom Zverina, Sabrina Kumar and Emily Atkinson (M&A/securities) and Grace Pereira (tax).
Leon's acquired all outstanding common shares of The Brick for $5.40 each and The Brick repurchased all outstanding common share purchase warrants for $4.40 each. Security holders had the right to receive up to an aggregate of $100 million of Leon's convertible debentures instead of cash. These were fully taken up at closing.
With the completion of the acquisition, The Brick's common shares and common share purchase warrants ceased to be listed on the Toronto Stock Exchange effective April 1, 2013.
Leon's was represented by its General Counsel, John Cooney and by McCarthy Tétrault LLP with a team led by David Tennant, Lara Nathans and Rob Hansen, and including Victoria Seth, Stephanie Yarmo, Richard O'Doherty, Leila Rafi, and Puja Inamdar (corporate finance and M&A); Gordon Baird, Ian Mak, Laura Hage, Sarah Bird, Kevin Wright, Justin Lapedus, Laurent Gauthier, Shauna Crothers, Stephen Curran (financial services); Geoff Hall (litigation); Donald Houston, Oliver Borgers, Michele Siu, Jonathan Bitran (competition); Trevor Lawson, Benjamin Aberant (labour & employment); Jamie Orzech, Carolyn Ruby, William McCullough, Annie Gagnon-Larocque, Charles Flicker and Craig Shirreff, Conrad Rego, Andrejs Mistiouk, Brad Nicpon, Marie-Josée Marcoux, Ashley Bozek, Patrick Kee, Vanessa Lunday (real property) and Patrick McCay, Gabrielle Richards and Mark Firman (tax).
The Brick was represented by its General Counsel, Greg Nakonechny, and by Blake, Cassels & Graydon LLP with a team including Chris Hewat, Tim Andison, Catherine Youdan, Saad Ahmad, Neil Lacroix and Jacob Gofman (M&A/Securities); Calvin Goldman, QC; Debbie Salzberger and Joshua Krane (competition); Ryan Morris (litigation); Lauren Temple (real estate) and Chris Van Loan and Ilan Braude (tax).
Fairfax Financial Holdings Limited was represented by Torys LLP with a team led by David Chaikof and included Tom Yeo, Tom Zverina, Sabrina Kumar and Emily Atkinson (M&A/securities) and Grace Pereira (tax).
Lawyer(s)
Thomas H. Yeo
Gordon D. Baird
David B. Tennant
Ryan A. Morris
Ilan Braude
Stephen P.E. Curran
Kevin Wright
Patrick J. McCay
Calvin S. Goldman
Benjamin T. Aberant
Christopher A. Hewat
Annie Gagnon-Larocque
Leila Rafi
Sarah J. F. Bird
Laurent Gauthier
Robert O. Hansen
Patrick Kee
Lara Nathans
Emily R. Atkinson
William D. McCullough
Trevor Lawson
Marie-Josée Marcoux
Mark T. Firman
Oliver J. Borgers
Conrad Albert Rego
Grace Pereira
Sabrina Kumar
Jamie D. Orzech
Christopher R.J. Van Loan
Charles Flicker
M. Laura Hage
Tom Zverina
Deborah Salzberger
Shauna L. Crothers
Justin A. Lapedus
Catherine Youdan
David A. Chaikof
Lauren Temple
Craig Shirreff
Ian Mak
Geoff R. Hall
Carolyn Ruby
Tim Andison
Joshua Krane
Richard O'Doherty
Stephanie L. Yarmo
Saad Ahmad
Michele Siu
Brad Nicpon