Inveresk Research Comletes IPO

Carry, North Carolina-based Inveresk Research Group, Inc. completed an initial public offering of common shares on July 3, 2002. The offering resulted in gross proceeds of approximately US$143 million. The underwriting team was led by Bear, Stearns & Co. Inc. and UBS Warburg LLC.

Stikeman Elliott acted as Canadian counsel to Inveresk Research, with a team that included John Leopold, William Rosenberg and Robert Carelli (corporate and securities), Jean Lamothe and Caroline Boutin (banking), Michel Legendre (tax) and Patrick Essiminy (employment).

In the U.S., Inveresk Research was represented by Clifford Chance Rogers & Wells LLP, with a team that included John Healy, Karl Roessner, Maureen Ryan, Amy Carriello and Sara Beach (corporate) and Isaac Grossman (tax) in New York and David Harkness and Lisa McDermott (tax) and Hilary Jones (employment) in London. Bruce Minto, Colin McHale, Ewan Gilchrist, Andrew Nicolson and Alasdair Proudfoot of Dickson Minto W.S., acted as Scottish counsel to Inveresk.

Jeffrey Roy and Brian Koscak of Cassels Brock & Blackwell LLP in Toronto acted as Canadian counsel to the underwriters. Coudert Brothers LLP in New York represented the underwriters in the U.S., with a team that included Jeffrey Cohen and Christine Tefft. Desjardins Ducharme Stein Monast acted as Canadian counsel to The Royal Bank of Scotland, with a team that included Dominique Bélisle and Patrick Elfassy (banking).