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Mergers & Acquisitions

With expertise in the industries that matter most to the global business landscape, we have the proven experience to get deals done.

McCarthy Tétrault’s national Mergers & Acquisitions team brings the right combination of seasoned expertise and youthful energy to our clients’ most sophisticated and important matters. Our industry-specific approach, local depth and global experience ensures we deliver successful results.

Why Clients Choose Us

Deep Experience

Significant experience advising a wide range of transaction participants, from emerging companies to global conglomerates, in large and mid-market transactions, including mergers, acquisitions, divestitures, joint ventures and partnerships.

Industry Expertise

We are pioneers in the legal industry for our focus on developing industry-specific expertise amongst our lawyers, concentrating on industries that have strategic alignment with key sectors in the Canadian economy.

  • Agriculture
  • Automotive
  • Cannabis
  • Distressed Assets
  • Energy Transition
  • Infrastructure
  • Life Sciences
  • Mining
  • Oil & Gas
  • Power
  • Private Equity
  • Real Estate
  • Real Assets
  • Retail and Consumer Products
  • Technology
  • Transportation

Trusted Advice On Complex Issues

Often the first call for domestic and cross-border transactions that involve complex or novel issues. We specialize in advising clients on the largest and most innovative domestic and international deals, including special situations and corporate governance matters.

Global Presence

Borderless service from our offices across Canada’s major commercial centres and in New York and London. We routinely work closely and in concert with leading law firms in the U.S. and overseas.

Strategic And Practical

Commercial-minded, practical advice and deal-making with a relentless focus on managing risk, delivering value and getting the right deal done.

Business Advisors

As entrepreneurial thinkers and business people ourselves, we understand our clients’ businesses and we focus on their transaction objectives.

Select Recent Experience

Metals & Mining

Rio Tinto Group

US$3.3 billion

Acquisition of Turquoise Hill Resources

 (2023 M&A Deal of the Year, Canadian Law Awards)

Newcrest Mining Limited

US$19.2 billion

Acquisition by Newmont Corporation

Endeavour Mining

C$2.44 billion

Acquisition of TSX-listed Teranga Gold

Oil & Gas

Brookfield Infrastructure Partners L.P.

C$15 billion

Privatization of Inter Pipeline Ltd.

(2022 M&A Deal of the Year, Canadian Law Awards)

Enbridge Inc.

C$37 billion

Acquisition of Spectra Energy Corp. to create the largest energy infrastructure company in North America

Pipestone Energy Corp.

C$1 billion

Acquisition by Strathcona Resources


Caisse de dépôt et placement du Québec

US$1.141 billion

Acquisition of the majority interest in Énergir Inc.

Direct Energy

US$3.625 billion

Acquisition by NRG Energy, Inc. 

(North America Conventional Power & Grid Infrastructure Acquisition of the Year, IJInvestor)

Cameco Corporation

US$7.875 billion

In their partnership with Brookfield Renewable to acquire Westinghouse Electric Company

Real Estate

Summit Industrial Income REIT

C$5.9 billion

Acquisition by JV between Dream Industrial REIT and GI

Blackstone/Pure Industrial

C$5.7 billion

Purchase of 300 industrial properties as part of the takeover bid of Comiar REIT

Slate Asset Management L.P.

US$2.33 billion

Acquisition of the Commercial Real Estate Business of Annaly Capital Management

Retail & Consumer Markets

Ritchie Bros. Inc.

US$7.3 billion

Acquisition of IAA Inc.

Nestlé S.A.

US$9.45 billion

Acquisition of Atrium Innovations Inc. (US$2.3B) and strategic alliance with Starbucks (US$7.15B)

Beiersdorf AG

C$590 million

Acquisition of Chantecaille Beaute Inc.

Tech & Telecom

BCE Inc.

Approx. C$4 billion

Acquisitions of Manitoba Telecom Services Inc. (C$3.9B), AlarmForce Industries Inc. (C$182M) and Axia NetMedia Corporation (Undisclosed)

Constellation Software Inc.

US$1.6 billion

in the spin-out of Lumine Group Inc. into a separate public company, and related acquisition by Lumine Group Inc. of US-based vertical market software provider, WideOrbit Inc.

Score Media and Gaming Inc. (“theScore”)

US$2 billion

Acquisition by Penn National Gaming, Inc.


InstarAGF Asset Management, Partners Group and Kilmer Van Nostrand Co. Limited


Sale of Billy Bishop Toronto City Airport’s passenger terminal to JP Morgan Asset Management

Brookfield Infrastructure Partners and GIC

US$8.4 billion

Acquisition of Genesee & Wyoming Inc.

Mubadala Capital, ParkJockey and Softbank


Acquisition of Impark from a subsidiary of Ontario Teachers’ Pension Plan Board


Brookfield Asset Management

£4.08 billion

Acquisition of HomeServe PLC

Blackstone Group and Benettons

EUR€58 billion

Buyout offer for Atlantia

Enercare Inc.


Acquisition of all the issued and outstanding units of HydroSolution L.P. and HydroSolution Ltd.

No matter the size, complexity or scope, no other Canadian firm offers the same depth of expertise:

  • Four20 in its C$110 million acquisition by Tilray Inc.
  • CSX Transportation in the sale of its Massena rail line to The Canadian National Railway Company
  • Stifel Financial Corp. in its C$70 million acquisition of substantially all of the capital markets business of GMP Capital
  • Sunniva Inc. in the C$20 million sale of Sunniva Medical Inc., including the Sunniva Canada Campus, to CannaPharmaRx
  • Rayonier Advanced Materials Inc. in the sale of its pulp mill in Matane, Quebec to Sappi Limited for US$175 million
  • BioSteel Sports Nutrition Inc. in its sale of a majority stake to Canopy Growth Corporation
  • Gestion MAC s.e.n.c. in the sale of a 55% stake in its operating businesses to Groupe BMR
  • Novacap in its acquisition of the business of Spectrum Health Care
  • Calibre Mining Corp. in its US$100 million acquisition of mining assets in Nicaragua from B2Gold Corp. and strategic partnership with B2Gold
  • Xilinx, a US-based technology developer, in its acquisition of NGCodec
  • Sinomine (Hong Kong) Rare Metals Resources Co. Limited, a wholly owned subsidiary of China-based Sinomine Resource Group Co., Ltd., in Cabot Corporation's sale of its Specialty Fluids business for US$135M
  • Connor, Clark & Lunn Infrastructure in its acquisition of a majority interest in Bremner Trio Hydro Corp. and the completion of their C$197 million debt financing for the construction of two run-of-river hydroelectric projects
  • Mikes Restaurants Corporation in the C$43.2 million sale of its trademarks and certain other intellectual property rights to Diversified Royalty Corporation
  • Summit Industrial Income REIT in the C$95 million acquisition of its external manager, Sigma Asset Management Limited to internalize its asset and property management functions
  • Echelon Financial Holdings in its C$166 million sale of Echelon Insurance to CAA Club Group
  • The special committee of Great Panther Silver Limited in its US$105 million acquisition of Beadell Resources Limited, an Australia-based gold producer
  • Alliance Designer Products, Inc. in its acquisition by Wynnchurch Capital, LLC., American private equity firm
  • Barcodes Group, a US-based provider of information technology solutions, in the acquisition of QSG through its subsidiary, OCR Canada Ltd.
  • Resurgent Holdings LLC in its sale of Resurgent Holdings Canada Inc. to PRA Group, Inc.
  • Audiokinetic Inc. in its acquisition by Sony Interactive Entertainment
  • George Melville in the sale of his 50% interest in Boston Pizza International
  • Carmanah Technologies Corporation in its acquisition of Vega Industries Limited


Cross-Border M&A: Top 10 Considerations for U.S. Acquirers of Canadian Targets

Cross-Border M&A: Top 10 Considerations for U.S. Acquirers of Canadian Targets

Our market-leading M&A Group highlights the core issues, key considerations, pitfalls and opportunities for U.S. businesses and investors contemplating the acquisition of a Canadian target.

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Going Private guide cover image

Canadian Going Private Transactions

Understand the steps necessary to take a public company private from some of Canada’s leading transactional lawyers.

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Special Committees Cover image

Special Committees

An overview of some of the principal Canadian corporate and securities law considerations that apply to special committees, with an emphasis on special committees appointed in connection with M&A transactions.

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The Mergers & Acquisitions Review, Sixteenth Edition – Canada chapter

The Mergers & Acquisitions Review, Sixteenth Edition – Canada chapter

The Canada chapter of the sixteenth edition of The Mergers & Acquisitions Review provides a practical overview of recent M&A activity and the legal and regulatory frameworks governing M&A transactions. Focusing on recent developments and emerging trends, this helpful publication examines key issues that can affect business, including relevant competition law considerations, foreign involvement, and more.

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