Richard J. Balfour
Richard J. Balfour
Senior Counsel at Torys LLP
(416) 865-7339
(416) 865-7380
79 Wellington St W, Suite 3000, Box 270, TD Ctr, Toronto, ON
Year called to bar: 1980 (ON)
Practice focuses on corporate and securities law. Substantial experience in public/private M&A transactions as well as public/private offerings of securities, including privatizations and demutualizations. Advises securities regulators and governments on regulation of securities markets, including legislative drafting. Represented TMX Group, operator of the Toronto Stock Exchange, in its acquisition by Maple Group and its proposed merger with LSE Group; The Bank of Nova Scotia in its acquisition of Dundee Wealth; Thomson in its acquisition of Reuters (Canada’s first dual-listed company structure); Sun Life Financial in the sale of its interest in CI Financial; CTV globemedia in its acquisition of CHUM; TSX Group in its demutualization IPO; Sun Life Financial in its acquisition of Clarica Life; and Sun Life in its demutualization. Advised Minister of Finance (Canada) on national securities regulation (2009–2014). A member of the Legal Advisory Committee to the Canadian Securities Transition Office in the implementation of national securities regulation. Chair of the Board of The Corporation of Massey Hall and Roy Thomson Hall. Ontario Bar, 1980. JD, 1978, Harvard University. BLitt, 1974, Oxford University (Rhodes Scholar). AB, 1971, Princeton University.
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On November 5, 2015, Hydro One Limited, the largest electricity transmission and distribution company in Ontario, announced the closing of its initial public offering by way of secondary sale pursuant to which the Province of Ontario offered 81,100,000 common shares at $20.50 per share for total gross proceeds to the Province of approximately $1.66 billion. This was the biggest Canadian IPO in the last 15 years.