Transaction|July 27, 2018
Morneau Shepell completes C$231 million equity offering
Torys acted as counsel to the syndicate of underwriters co-led by TD Securities and National Bank Financial with a team that included Kevin Morris, Brett Saulnier and Hongyi Geng (corporate/securities).
On July 27, 2018, Morneau Shepell Inc. ("Morneau Shepell") announced that it completed an agreement with a syndicate of underwriters, co-led by TD Securities Inc. and National Bank Financial Inc., to issue 8,701,000 subscription receipts (which included an over-allotment option, exercised in full by the underwriters) at a price of C$26.55 per receipt, on a bought deal basis, for gross proceeds of C$231,011,550.
The net proceeds were used to finance a portion of Morneau Shepell's C$426 million acquisition of all of the outstanding shares of LifeWorks Corporation Ltd., which closed the same day.
Morneau Shepell is the only human resources consulting and technology company that takes an integrated approach to employee assistance, health, benefits and retirement needs. The company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada.
Further information can be found on Canada Newswire's website.
The net proceeds were used to finance a portion of Morneau Shepell's C$426 million acquisition of all of the outstanding shares of LifeWorks Corporation Ltd., which closed the same day.
Morneau Shepell is the only human resources consulting and technology company that takes an integrated approach to employee assistance, health, benefits and retirement needs. The company is the leading provider of employee and family assistance programs, the largest administrator of retirement and benefits plans and the largest provider of integrated absence management solutions in Canada.
Further information can be found on Canada Newswire's website.