General Electric Acquires Smiths Group Aerospace Business

Smiths Group PLC completed the US$4.8 billion sale of its aerospace business to General Electric Company on May 4, 2007. The deal involved regulatory approval from all relevant authorities including the European Union and the US. In Canada, the transaction involved the sale of the aerospace business of Smiths' affiliate, John Crane Canada Inc., to General Electric Canada. Smiths is a global technology company and a world leader in the practical application of advanced technologies. General Electric Company (GE) is a diversified industrial corporation with a portfolio of businesses ranging from jet engines to power generation, financial services to plastics, and medical imaging to news and information.

General Electric company and its affiliates were represented globally by Slaughter and May and in Canada by Blake, Cassels & Graydon LLP, with a team including David Glennie, Bliss White, Carlos Cerqueira and Janan Paskaran (corporate); Cal Goldman and Rob Kwinter (competition and Investment Canada); Silvana D'Alimonte (real estate); Connie Reeve (labour); Jeff Sommers (pensions and benefits); Jonathan Kahn (environmental) and Bryan Bailey and Greg Kanargelidis (tax).
Smiths and its affiliates were represented globally by Allen & Overy LLP with a team including Fiona O'Shea and Mark Davis (corporate) and in Canada by Fasken Martineau DuMoulin LLP with a team including Anthony Baldanza (competition and Investment Canada); Bruce Blain and Andrew Alleyne (corporate); Dan Law (real estate); Ralph Nero (labour); Ross Gascho and Peggy McCallum (pensions and benefits); Paul Casuccio (commodity tax) and Mitchell Thaw (tax).