On August 26, 2024, Shift4 Payments, Inc., a leader in integrated payments and commerce technology, entered into a definitive agreement to acquire Givex Corp., a global provider of gift cards, loyalty programs and point-of-sale solutions, for approximately $200 million, representing a 64 percent premium over the 20-day VWAP of Givex shares on the TSX as of August 23, 2024.
The deal, unanimously approved by Givex's board and supported by 57.4 percent of its shareholders, is subject to customary closing conditions, including shareholder and court approvals.
Bennett Jones LLP acted as legal counsel to Shift4. The Bennett Jones team on the deal included Curtis Cusinato, Kris Hanc, Bronwynn Shaw, Yohanna Laurensia, Biancha Jacob-Okorn, Chris Hennigar (M&A), Matthew Flynn, Suzie Suliman (IT), Talia Bregman, Haley Zerr (Employment), Shelby Morrison (IP), Adam Kalbfleisch (Competition/Regulatory), Philip Ward (Tax), Scott Martyn (Real Estate) and Simon Grant (Financial Services). Latham & Watkins LLP acted as U.S. legal counsel to Shift4.
Canaccord Genuity Corp. provided a fairness opinion to Givex’s Special Committee and Board, confirming the financial fairness of the transaction. Wildeboer Dellelce LLP served as legal counsel to Givex, with Torys LLP advising the Special Committee. The Torys team was led by John Emanoilidis and included Ed Fan (IP), Tom Stevenson (employment), Nic Wall (privacy), Andrew Gray (litigation) and Omar Wakil (regulatory).