On December 19, 2001, CTC Acquisition Limited, a wholly owned subsidiary of Canadian Tire Corporation, Limited, agreed to make a friendly $116 million takeover bid for all common shares of Mark’s Work Wearhouse Ltd. The acquisition will combine the strengths of one of Canada’s best-known and most successful retailers with one of the country’s leading specialty retail organizations which specializes in work and work-related casual apparel.
The Canadian Tire team was led by Mike Medline, executive vice-president, new business development; Cameron Stewart, general counsel; and John Chimienti, legal counsel. Goodmans LLP acted as external counsel to Canadian Tire. The Goodmans mergers and acquisitions team consisted of Stephen Halperin, Sheldon Freeman, David Sherman and Shevaun McGrath. Mark’s Work Wearhouse was represented by Martin Lambert, Noralee Bradley and Kerry Krochak of Bennett Jones LLP in Calgary.