TSE Acquires CDNX

On May 1, 2001, the Toronto Stock Exchange Inc. (TSE) announced that it had agreed with Canadian Venture Exchange (CDNX) that the TSE would acquire all of the outstanding shares of CDNX for $50 million. The transaction is structured as a reorganization of capital, and is subject to approval of applicable regulatory authorities and CDNX shareholders. The TSE shareholders are also being asked to approve certain changes in the governance arrangements of the TSE in connection with the transaction. Closing will occur shortly after regulatory approvals have been obtained.

The TSE legal team was headed by Leonard Petrillo, Vice-President and General Counsel of the TSE, with assistance from Osler, Hoskin & Harcourt LLP’s Don Ross, Chris Murray, Alexis Gosselin and Dana Easthope (corporate), Mark DesLauriers (securities regulatory approvals), George Addy and Shuli Rodal (competition), David Tetreault and Kim Wharram (tax).

The CDNX legal team was headed by Maryn Sigurdson, Vice-President, Regulatory Affairs, and N. Casey French assisted by Fraser Milner Casgrain LLP’s David Lefebvre, Dorothy Dawe, Craig Story and Melissa Byer (corporate), Tom Mayson (securities regulatory approvals), Randy Hughes (competition), Brian Carr and Scott Bodie (tax).