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Goodmans Deals & Cases

This section contains brief summaries of selected significant cases and transactions.  You'll also find representative lists  - by year - of major transactions and cases where Goodmans' involvement is a matter of public record or where inclusion in the list has been authorized by our clients.

MCAN Completes Acquisition of Xceed

2013

Areas Corporate and Commercial, Employment and Labour, Litigation, Structured Finance and Derivatives, Tax

Summary

Goodmans represented MCAN Mortgage Corporation (“MCAN”), a mortgage investment corporation, in connection with its successful acquisition of Xceed Mortgage Corporation (“Xceed”), a Canadian provider of residential mortgages, for total consideration of approximately $53 million. The acquisition of Xceed was carried out by way of a plan of arrangement under the Ontario Business Corporations Act, pursuant to which MCAN acquired all of the issued and outstanding common shares of Xceed for $1.75 or 0.118 of an MCAN share, or a combination thereof. In consideration for the transfer of the Xceed shares, MCAN paid aggregate cash consideration of approximately $30.3 million, and issued approximately 1.5 million MCAN shares, to the former holders of Xceed shares.