Elliot Shapiro

Norton Rose Fulbright Canada LLP

Elliot Shapiro

Elliot Shapiro



Elliot Shapiro's practice is transaction oriented, with a focus on corporate and securities law, public and private mergers and acquisitions (M&A), infrastructure and P3 financing as well as venture capital financing transactions. Mr. Shapiro also regularly advises public companies and their boards of directors on strategic, disclosure and governance matters. He has also worked on various licensing and related commercial arrangements. Mr. Shapiro has been integrally involved in numerous cross-border Canada-US corporate finance transactions both on a public and private placement basis as well as a range of public and private M&A transactions.

Mr. Shapiro is co-chair of our Canadian corporate finance and securities team and a member of the Corporate Finance Advisory Committee of the Quebec Autorité des marchés financiers. Mr. Shapiro also serves as a member of Norton Rose Fulbright's Canadian Risk and Audit Committee. He previously served for over 5 years as corporate secretary of Aeterna Zentaris Inc., a specialty biopharmaceutical company traded on the Toronto Stock Exchange and the Nasdaq Capital Market.

Prior to joining our Montréal office, Mr. Shapiro worked as a research assistant for Professor William Tetley, Q.C. in maritime and private international law. He is fluent in English, French and Polish.

Professional experience

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  • LL.B./B.C.L., McGill University, 1999
  • B.A., McGill University, 1993
  • Quebec 2000


Clients for whom Mr. Shapiro has acted include:

In corporate finance

  • Aeterna Zentaris Inc. in multiple public/registered equity issuances in the United States by way of CMPO (confidentially marketed public offering), registered direct and follow‑on offerings, as well as in the implementation of various “ATM” (at‑the‑market) share issuance programs
  • The agents in the public offering by Bell Canada of $1 billion of 3.60% medium-term note debentures, series M‑21, maturing on December 2, 2015

In mergers and acquisitions

  • SNC‑Lavalin Group Inc., in its $3.1 billion sale of AltaLink to Berkshire Hathaway Energy
  • Resolute Forest Products Inc., in its acquisition of all of the issued and outstanding shares of Fibrek Inc. by way of take‑over bid and second‑step plan of arrangement
  • RONA inc. in its acquisition, by way of amalgamation, of all of the issued and outstanding shares of TruServ Canada Inc.
  • Bowater Incorporated in connection with its cross-border merger with Abitibi Consolidated Inc. to create Resolute Forest Products Inc. (formerly AbitibiBowater Inc.), a global leader in publications papers (newsprint and other communications papers)
  • Arcelor S.A. (now ArcelorMittal) in connection with its $5.6 billion acquisition of Dofasco Inc. by way of take‑over bid

In venture capital financings

  • Tranzyme Pharma, a clinical-stage biopharmaceutical company developing novel small molecule drugs for both acute and chronic disorders with high unmet medical need, in connection with the Canadian aspects of its US$54 million IPO on the NASDAQ and various private equity, convertible debt and venture debt financing rounds and previously in the cross border synthetic merger of Tranzyme, Inc. with Neokimia Inc.


  • Canadian Legal Lexpert Directory, 2018-2022: recommended in Corporate Finance & Securities; 2019-2022: recommended in Corporate Commercial Law; 2021-2022: recommended in Corporate Mid-Market
  • International Financial Law Review 1000, Canada: Mergers and acquisitions; Project finance, 2021-2022
  • Canadian Bar Association