Thursday, May 24, 2001
Published in Magazine:
Sunday, July 01, 2001
On May 24, 2001, SPX Corporation completed its acquisition of United Dominion Industries Limited in an all-stock transaction valued at US$954 million. SPX will also refinance US$876 million in United Dominion debt, bringing the total transaction to US$1.83 billion. As a result of the transaction, SPX, a Michigan-based supplier of parts and services to automakers, will gain access to approximately US$5 billion in pro forma revenue and acquire UDI’s 18 businesses involved in the manufacturing of proprietary engineering products.
SPX was represented by Christopher J. Kearney, Vice-President, General Counsel and Secretary. Aviva Diamant, Jack Jacobson, Donald Carleen and associates Jonathan Adler, Michael Fox, Joseph Segilia and Lori Hernando of Fried, Frank, Harris, Shriver & Jacobson also acted on behalf of SPX. Fasken Martineau DuMoulin LLP’s Toronto office served as Canadian counsel, with a team consisting of John Hough, Q.C., Connie Sugiyama, Cathy Singer, Nigel Johnston, Elizabeth Johnson, Doug New, Gregory Ho Yuen, Angela Di Padova and Aaron Atkinson.
Richard Magee acted as UDI’s General Counsel. North Carolina’s Robinson, Bradshaw & Hinson, P.A. represented UDI in the merger with a team comprised of Stephen Lynch, John Miller, Laura Smith, Kelly Luongo Loving and Charles Lewis. Stikeman Elliott acted for United Dominion with a team comprised of William Braithwaite, Curtis Cusinato, Melissa Ross, Andrew Grossman (corporate and securities), John Lorito (tax), Shawn Neylan (competition), David Byers and Eliot Kolers (litigation).