IBM Corporation announced on August 2, 2002, that it would acquire the worldwide consulting and technology services business of PricewaterhouseCoopers for an estimated purchase price of US$3.5 billion in cash and stock. The deal closed on October 1, 2002.
In Canada, IBM Canada general counsel Jay Safer and in-house counsel Helen Aston managed the transaction, working with Osler, Hoskin & Harcourt LLP. The Oslers team was led by John Kazanjian, and included Douglas Marshall, Dana Di Bartolo, John Groenewegen and Douglas Bryce (mergers and acquisitions), Monica Biringer (tax), James Hassell (labour), Paul Litner (pension) and Tim Kennish and Michelle Lally (competition and regulatory). Peter Atkins and Howard Ellin of Skadden, Arps, Slate, Meagher & Flom LLP in New York acted for IBM internationally.
PwC was represented in Canada by in-house counsel Beau Zahrai and Stephen Kirby, supported by Fasken Martineau DuMoulin LLP with a team led by Bruce Blain and Scott Conover, and including John Beardwood (corporate), Martin Denyes (labour), Angela Di Padova and Doug New (competition), Greg Ho Yuen and Chris Bent (securities), Liz Johnson (tax), Ziad Katul (IP), Dan Law and Allison Allaster (real estate), Marina Seidl and Warren Sheffer (corporate) and John Torrey and Thomas Meagher (banking). Robert Townsend, III, James Woolery, Thomas Auth, James Chen, Stephen Cho, Breen Haire, Michael LaGatta, Tatiana Lapushchik, Cameron MacDougall, Brannen McElmurray, Brittain Rogers, Ari Silverman and George Stephanakis (corporate), William Brannan, Lauren Angelilli and Eric Hilfers (tax) and Scott Price (benefits) of Cravath, Swaine & Moore acted for PwC internationally.