The Toronto Stock Exchange (TSE) completed the mergers of the Toronto 35 Index Participation Fund and the TSE Index Participation Fund with the iUnits S&P/TSE Index Participation Fund, managed by Barclays Global Investors Canada Limited on March 6, 2000. Closing of the transaction occurred when approximately $3.7 billion of assets held in the 35 Fund and the 100 Fund were merged into the i60 Fund in exchange for units of the i60 Fund which were then distributed to unit-holders of the 35 Fund and the 100 Fund. The mergers effectively consolidated index participation units from the three funds to form a single index participation unit based on the widely accepted S&P/TSE 60 Index.
McCarthy Tétrault acted for the TSE with a team led by partners Michael Nicholas and F. David Rounthwaite, which included associate Andrew Parker and tax partner James Morand. In-house counsel for the TSE was Katarina Premovic. Torys represented the i60 Fund with the team being comprised of partner Patricia Koval and associate Andrew Spence. In-house counsel for Barclays was Warren V. Collier.