Our Calgary, Toronto, Washington, Houston, Dallas, New York and London offices advised Solium Capital on its acquisition by Morgan Stanley for C$1.1bn.
Morgan Stanley paid C$19.15 per share of Solium Capital pursuant to a court-approved plan of arrangement. The transaction closed on May 1st, 2019. The Solium business will be rebranded to Shareworks by Morgan Stanley, and will become part of a new “Morgan Stanley at Work” service offering that will include retirement and financial wellness options.
Solium Capital is a publicly traded software-as-a-service company headquartered in Calgary, Alberta, Canada. The company is a global provider of technology and services supporting the administration of equity-based incentive plans, and provides web-based and cloud-enabled services for the administration, financial reporting and regulatory compliance related to most types of equity plans.
Morgan Stanley is a global financial services firm that maintains significant market positions in each of its business segments – institutional securities, wealth management and investment management.
The team was led by Justin Ferrara (corporate and M&A, Calgary) and included Katherine Prusinkiewicz, Jennifer McPherson and Connor Kense (corporate and M&A, Calgary); Dion Legge and Etienne (ET) Godel (tax, Calgary); Elizabeth Williams (intellectual property, Calgary); Steven Leitl (disputes, Calgary); Todd Schroeder (tax, Dallas); Alexander Clark (employee benefits, Dallas); Brian Fenske (corporate and M&A, Houston); Danielle Alexis Matthews (employment, Dallas); Ian MacRae, Justin Burt and Slade Rieger (real estate, Calgary); and Matthew Longstaff and Amy Yang (banking, Calgary).
Closing of the transaction was subject to the receipt of a number of governmental regulatory approvals, including those required by applicable competition and antitrust laws in Canada and the United States and those related to Solium’s subsidiaries that are financial services regulated entities in Canada, the United States, the United Kingdom and Jersey. The regulatory approvals team included Kevin Ackhurst and Richard Wagner (competition, Toronto); Michael Bunn (corporate and securities, Toronto) and Dan Wellington; Andrew Lom and Rachael Browndorf (asset and wealth management, New York); and Jonathan Herbst and Georgia Karamani (financial services regulation, London).