Norton Rose Fulbright advises Solium Capital on acquisition by Morgan Stanley for C$1.1bn

Press release - Business May 2019

Global law firm Norton Rose Fulbright advised Solium Capital in an acquisition deal in which Morgan Stanley paid C$19.15 for each issued and outstanding common share, pursuant to a court-approved plan of arrangement. The all-cash transaction, representing a total equity value of more than CAD $1 billion, closed on May 1, 2019.

A cross-border, multi-disciplinary team, comprised of lawyers from Norton Rose Fulbright’s Calgary, Toronto, Washington, Houston, Dallas, New York and London offices counselled Solium Capital, a publicly traded software-as-a-service company headquartered in Calgary, Canada.

The company is a global provider of web-based and cloud-enabled technology and services for the administration, financial reporting and regulatory compliance of stock plans. It has more than 3,000 corporate clients with employee participants in more than 100 countries.

Justin Ferrara (Calgary), who led the cross-border team, commented:

“We were pleased to assist Solium and to realize the benefits of tapping into our global network of lawyers from a dozen of our firm’s practice groups.”

The Solium business has been rebranded as Shareworks by Morgan Stanley, and will become part of a new “Morgan Stanley at Work” suite of solutions that will include retirement and financial wellness options.

In addition to Mr. Ferrara, the Norton Rose Fulbright team also included Katherine Prusinkiewicz, Jennifer McPherson, Connor Kense, Dion Legge, Andrew Lim, Elizabeth Williams, Steven Leitl, Ian MacRae, Justin Burt, Slade Rieger, Matthew Longstaff (Calgary), Todd Schroeder, Alexander Clark (Dallas) and Brian Fenske (Houston).

Governmental regulatory approvals need to be obtained in several jurisdictions to complete the transaction. The multidisciplinary regulatory approvals team included: Kevin Ackhurst, Michael Bunn (Toronto), Richard Wagner (Ottawa), Dan Wellington, Luke McFarland (Washington, DC), Andrew Lom, Rachael Browndorf (New York), Jonathan Herbst and Georgia Karamani (London).