Aurora, Ontario-based Magna Entertainment Corp. (MEC), the leading owner and operator of thoroughbred horse racetracks in the U.S., based on revenue, recently completed the issuance of 23 million shares of class A subordinate voting stock for an aggregate price of US$152.95 million. The offering was a registered offering in the U.S. and a prospectus qualified offering in each of the provinces of Canada. The offering was completed on April 10, 2002. The deal was led by Bear, Stearns & Co. Inc. as sole book-running manager and co-led by BMO Nesbitt Burns Inc. and CIBC World Markets Inc.
MEC was represented in-house by Gary Cohn, vice-president, special projects, Ed Hannah, vice-president and general counsel, and Mark Hayman, associate corporate counsel; and by Osler, Hoskin & Harcourt LLP in New York and Toronto, with a team comprised of Rob Lando and Tal Sagorsky (corporate and securities) and Monica Biringer and Julie Colden (tax). Scott Freeman, Jonathan Melmed and Jeffrey Patten (corporate and securities) and Paul Wysocki (tax) of Sidley Austin Brown & Wood LLP in New York acted as U.S. legal counsel.
The underwriters were represented by Torys LLP, with a team that included Glen Johnson, Brian Davis, Jennifer Soward and Michael Choiselat (corporate and securities) and Ann Marie McGovern (tax). Marc Jaffe, Carrie Girgenti and Jeremiah Sheehan of Latham & Watkins in New York acted as U.S. counsel for the underwriters.
MEC was represented in-house by Gary Cohn, vice-president, special projects, Ed Hannah, vice-president and general counsel, and Mark Hayman, associate corporate counsel; and by Osler, Hoskin & Harcourt LLP in New York and Toronto, with a team comprised of Rob Lando and Tal Sagorsky (corporate and securities) and Monica Biringer and Julie Colden (tax). Scott Freeman, Jonathan Melmed and Jeffrey Patten (corporate and securities) and Paul Wysocki (tax) of Sidley Austin Brown & Wood LLP in New York acted as U.S. legal counsel.
The underwriters were represented by Torys LLP, with a team that included Glen Johnson, Brian Davis, Jennifer Soward and Michael Choiselat (corporate and securities) and Ann Marie McGovern (tax). Marc Jaffe, Carrie Girgenti and Jeremiah Sheehan of Latham & Watkins in New York acted as U.S. counsel for the underwriters.
