On March 6, 2001, itemus inc. offered to purchase all of the outstanding common shares of NAME Inc. by way of share exchange takeover bid for consideration equal to .9155 of an itemus common share for each NAME common share, subject to increase. The total consideration for the acquisition is approximately $70 million. itemus also offered to acquire all outstanding NAME options and warrants, on similar terms as its offer to purchase the NAME common shares, in exchange for itemus options and warrants. NAME is one of the world’s first Internet application integrators. NAME helps clients understand and take advantage of network technologies in electronic business, online publishing, knowledge management, and process reengineering. itemus inc. is a strategic services and technologies company that helps organizations architect, build and manage innovative business models for the Internet. At press time, itemus had acquired approximately 90 per cent of the outstanding NAME shares.
Goodmans LLP acted for itemus inc. with a team that included Stephen Pincus, Neill May, David Weinberger, David Sherman (securities) and Carrie Smit (tax). NAME Inc.’s in-house counsel, Mark Anshan, worked with Allan Bronstein and Paul Bachand (securities) of Aird & Berlis LLP, with Ian Kyer and Sanjay Kutty of Fasken Martineau DuMoulin LLP on employment matters.