On November 28, 2008, 2187675 Ontario Inc., an indirect wholly owned subsidiary of Morguard Corporation, completed the privatization of Revenue Properties Company Limited, a company with a market capitalization of $113.6 million. The acquisition was completed by way of an amalgamation of 2187675 and Revenue Properties, and the amalgamated entity will continue to carry on business under the name Revenue Properties Company Limited. Following the acquisition, Revenue Properties became an indirect wholly owned subsidiary of Morguard.
Morguard's legal team was led in-house by Beverly G. Flynn, general counsel. Morguard was also represented by Stikeman Elliott LLP with a team that included William Braithwaite, Adam Kline and Mike Devereux (corporate/securities) and Kevin Kelly and Francesco Gucciardo (tax).
The special committee of the board of Revenue Properties was represented by Stephen Halperin and Krista Coburn of Goodmans LLP.