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Allens drives Canadian acquisition

Allens Arthur Robinson is acting for the Canada Pension Plan Investment Board (CPPIB), one of Canada's largest institutional investors, on its proposed acquisition of Intoll Group, valued at…

user iconLawyers Weekly • 30 August 2010 • Big Law
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Allens Arthur Robinson is acting for the Canada Pension Plan Investment Board (CPPIB), one of Canada's largest institutional investors, on its proposed acquisition of Intoll Group, valued at approximately $3.4 billion.

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Under CPPIB's proposal, Intoll security holders will have the option of receiving $1.52 cash per Intoll stapled security, or a scrip and cash option, or a combination of the two options.

If accepted, the acquisition will be implemented via a scheme of arrangement and trust schemes.

The directors of Intoll have unanimously recommended that Intoll security holders approve the transaction and elect to receive the cash option, stating that CPPIB is offering a highly attractive premium.

Allens partner Wendy Rae is leading the team, which brings together partners and lawyers from across the corporate, funds management, projects and tax service areas.

Mallesons Stephen Jaques advised Intoll Group.

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