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Matthew Merkley

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Representative transactions include advising:

Initial Public Offerings

  • Spin Master Corp. on its C$253-million initial public offering of subordinate voting shares on the Toronto Stock Exchange (and subsequent prospectus offerings)

  • Underwriters on a US$151-million initial public offering of subordinate voting shares by Shopify Inc. on the Toronto Stock Exchange and New York Stock Exchange (and subsequent prospectus offerings)

  • Private equity owners on a C$230-million initial public offering of common shares by Stelco Holdings Inc. on the Toronto Stock Exchange (and subsequent prospectus offerings)

  • Underwriters on a C$230-million initial public offering of trust units by Minto Apartment REIT on the Toronto Stock Exchange (and subsequent prospectus offerings)

  • Underwriters on a C$81-million initial public offering of trust units by Automotive Properties REIT on the Toronto Stock Exchange

  • Starlight U.S. Multi-Family Core Fund family of funds on six initial public offerings of an aggregate of US$355-million of limited partnership units on the TSX Venture Exchange

  • NADG NNN REIT in connection with its up to US$50-million initial public offering of unlisted trust units

Other REIT / REOC Public Offerings

  • WPT Industrial REIT on a US$135-million offering, a US$126.6-million offering and concurrent secondary offering, and a US$84-million offering and concurrent private placement of trust units

  • H&R REIT and H&R Finance Trust in connection with many offerings of stapled units, convertible debentures and senior unsecured debentures

  • Underwriters on C$253.3-million and C$160-million offerings of subscription receipts and trust units of Sienna Senior Living Inc.

  • Underwriters on a C$132-million offering of subscription receipts and convertible debentures by Slate Office REIT

Other Prospectus Offerings

  • The Descartes Systems Group Inc. on its US$147-million offering of common shares

  • Underwriters on C$55-million and C$40-million offerings of convertible unsecured subordinated debentures by North American Construction Group Ltd.

  • Underwriters on a C$77.6-million offering of convertible debentures by Liquor Stores N.A. Ltd.

  • Caterpillar Financial Services Limited on offerings of an aggregate of C$3.4-billion of medium term notes

Other Strategic Transactions

  • Power Financial Corporation on its C$1.65-billion repurchase and cancellation of common shares pursuant to a substantial issuer bid and its tendering into Great-West Lifeco Inc.’s C$2-billion substantial issuer bid, and Power Corporation of Canada on its C$1.35-billion repurchase and cancellation of subordinate voting shares pursuant to a substantial issuer bid and its tendering of common shares into Power Financial Corporation’s substantial issuer bid

  • Starlight U.S. Multi-Family Core Fund family of funds in connection with their securityholder and court-approved arrangement transaction to create the C$1.4-billion Starlight U.S. Multi-Family (No. 5) Core Fund

  • TransGlobe Apartment REIT on its privatization by Starlight Investments Ltd. for an aggregate purchase price of approximately C$1.03-billion

  • Celestica Inc. on its US$350-million and US$175-million issuer bid repurchases and cancellation of subordinate voting shares

  • WPT Industrial REIT on its internalization of management, acquisition of private capital business and U.S. industrial joint venture with two large Canadian pension plans

  • Granite REIT on its conversion from a corporation to a stapled unit real estate investment trust structure

Awards & Recognition

Matthew is ranked as a leading lawyer in the following publications:

  • Chambers Canada: Canada's Leading Lawyers for Business - 2018-2020 (REITs)

  • The Canadian Legal Lexpert Directory - 2018-2019 ("Repeatedly Recommended" in Corporate Finance & Securities)

  • Acritas Stars: Independently Rated Lawyers - 2016-2018 (Nominated as a stand-out lawyer by senior in-house counsel)

Professional Activities

Matthew is a member of Ontario Securities Commission Continuous Disclosure Advisory Committee.

Publications
Professional Appearances
  • Panellist: Getting Ready for Proxy Season: Key Developments in Corporate Governance and Shareholder Activism
    Business Class Seminar, December 2019.
  • Panellist: Getting Ready for Proxy Season
    Business Class Seminar, October 2018.
  • Panellist: Corporate Governance and Shareholder Activism
    Business Class Seminar, February 2018.
  • Panellist: Managing Enterprise Risk: Spotlight on Directors’ and Officers’ Liability
    Business Class Seminar, December 2017.
  • Panellist: Strategies for Executive Compensation Blakes
    Business Class Seminar with Willis Towers Watson, September 2017.
  • Speaker: Understanding Corporate Governance
    National Conference: Agents of Change (Spring Training Camp), Canadian Corporate Counsel Association, Toronto, Ontario, April 2, 2017.
Media Activities
  • Quoted: Clarifications Lead Changes in 2020 Canadian Proxy Voting Guidelines
    Article by Mark Coakley, Activistmonitor.com, February 7, 2020.
  • Quoted: Diversity Disclosure Obligations for Canadian Firms to Expand in 2020
    Article by Mark Coakley, Activistmonitor.com, December 16, 2019.
  • Quoted: Understanding Canada’s new diversity disclosure requirements
    Article by Jaclyn Jaeger, Compliance Week, September 30, 2019.
  • Quoted: New disclosure requirements come into play in 2020 for CBCA companies
    Article by Elizabeth Raymer, Canadian Lawyer, July 18, 2019.
  • Quoted: Canadian IR in an Age of ‘Fake News’
    Article in IR Leader, Canadian Investor Relations Institute, Vol. 28, Issue 2, 2018.
  • Quoted: Federal bill on corporate boards gets amendments
    Article by Dale Smith, Law Times, February 5, 2018.
  • Quoted: A peek at what lies ahead for the 2018 proxy season
    Article by Barry Critchley, National Post, Financial Post, FP Street, January 17, 2018.
  • Quoted: To Tweet or not To Tweet
    Article by Brian Burton, Lexpert Magazine, July/August 2017.
  • Quoted: CSA Sheds Welcome Light on Social Media Use for Canadian Disclosure
    Article in IR Leader, Canadian Investor Relations Institute, Vol. 27, Issue 2, 2017.
Education
Admitted to the Ontario Bar - 2005
J.D., University of Toronto - 2004
M.B.A., University of Toronto - 2004
B.Comm. (Hon.), Queen's University - 2000
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