On June 22, 2000, Héroux Inc. completed its acquisition of all the issued and outstanding shares of Devtek Corporation, an international developer and manufacturer of systems, sub-systems and components for the aerospace industry, pursuant to a takeover bid launched on May 19, 2000. The offer was made on the basis of, at the option of the holder, for each Devtek share, either $3.50 or 0.833 Héroux common share with proration features on both the cash and share components. Héroux Inc. specializes in the design, development, manufacture and repair of aerospace and industrial products.
Desjardins Ducharme Stein Monast acted as counsel to Héroux with a team led by Marc Rochefort and which included Jacques Paquin, Benoît Vincent Morel, Éric Verret (Securities), Shannon Myre, Martin Rolland, Serge Gloutnay (tax), and Odette Nadon (environment). Davies, Ward & Beck acted as counsel to Devtek with Carol Hansell leading the M&A aspect of the transaction. William Orr of Heenan Blaikie and Stephen Halperin of Goodman Philips & Vineberg acted respectively for Mr. Helmut Hofmann and Mr. Donald Green, the two principal shareholders of Devtek.