In a transaction valued in excess of C$125 million, Raymond James Financial, Inc. (Raymond James), a full service broker-dealer engaged in most aspects of securities distribution and investment banking, acquired all of the shares of Goepel McDermid Inc. (Goepel McDermid) on December 29, 2000. Goepel McDermid is one of Canada’s largest independent broker-dealers with 250 investment advisors in 22 branches across Canada, and generated revenues for the fiscal year ended March 31, 2000, of approximately C$152 million. After the consummation of this transaction, Raymond James has an aggregate of 4,700 financial advisors in nearly 1,900 locations throughout the United States, Canada and overseas.
Goepel McDermid was acquired by a Canadian subsidiary of Raymond James in exchange for cash, retractable shares of the subsidiary and exchangeable shares of the subsidiary which are exchangeable for approximately 1,000,000 shares of common stock of Raymond James. A US$12 million retention pool was also established for key employees. Approximately 30 per cent of the purchase price will be deferred for 24 months subject to satisfaction of certain conditions. In January, 2001, Goepel McDermid Inc. changed its name to Raymond James Ltd.
Raymond James was advised by Greenberg Traurig, P.A. and Osler, Hoskin & Harcourt LLP. Advising Raymond James from Greenberg Traurig were Phillip J. Kushner and Manuel R. Valcarcel, IV. The Oslers team was comprised of Andrew J. MacDougall, Julie Colden and Desmond Lee, with the assistance of Peter Franklyn and Kevin Ackhurst on anti-trust and Investment Canada Act matters and John Jason with respect to banking matters.
Goepel McDermid was represented by the Vancouver office of Borden Ladner & Gervais LLP via a team led by Neil de Gelder, Q.C., Fred R. Pletcher and Robert Kopstein (tax) with the assistance of Jeffrey Thomas (anti-trust), Dario Fracca and Brett Baker.
Goepel McDermid was acquired by a Canadian subsidiary of Raymond James in exchange for cash, retractable shares of the subsidiary and exchangeable shares of the subsidiary which are exchangeable for approximately 1,000,000 shares of common stock of Raymond James. A US$12 million retention pool was also established for key employees. Approximately 30 per cent of the purchase price will be deferred for 24 months subject to satisfaction of certain conditions. In January, 2001, Goepel McDermid Inc. changed its name to Raymond James Ltd.
Raymond James was advised by Greenberg Traurig, P.A. and Osler, Hoskin & Harcourt LLP. Advising Raymond James from Greenberg Traurig were Phillip J. Kushner and Manuel R. Valcarcel, IV. The Oslers team was comprised of Andrew J. MacDougall, Julie Colden and Desmond Lee, with the assistance of Peter Franklyn and Kevin Ackhurst on anti-trust and Investment Canada Act matters and John Jason with respect to banking matters.
Goepel McDermid was represented by the Vancouver office of Borden Ladner & Gervais LLP via a team led by Neil de Gelder, Q.C., Fred R. Pletcher and Robert Kopstein (tax) with the assistance of Jeffrey Thomas (anti-trust), Dario Fracca and Brett Baker.
Lawyer(s)
Desmond Lee
Jeffrey S. Thomas
Peter H.G. Franklyn
Kevin D. Ackhurst
Brett Baker
Phil. J Kushner
Manuel R. Valcarcel, IV
Andrew J. MacDougall
Julie A. Colden
John R. Jason
Fred R. Pletcher
Neil de Gelder