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Clay  Horner

Clay Horner

Retired Partner


Contact Information

chorner@osler.com

tel: 416.862.6590

Office

Toronto

Bar Admission

Ontario, 1986

Education
  • Harvard University, LL.M.
  • University of Toronto, LL.B.
  • Queen’s University, B.A.
Language(s)
English

Clay, a nationally and internationally recognized leading advisor for mergers and acquisitions in Canada. He is named by The 2011 International Who’s Who Legal as one of the Top 10 Most Highly Regarded Mergers and Acquisition Individuals in the World (the only Canadian to receive this honour). Clay has extensive experience in counselling senior management and Boards of Directors of leading public and private corporations. He has acted on many significant transactions with U.S. and international law firms and investment banks, particularly in respect of cross border transactions. Former Chair of firm and Chair of Corporate Department. Clay was lead counsel to the “Wise Persons’ Committee” appointed to recommend the best securities regulatory system for Canada and, as a former managing partner of the New York office, worked extensively in cross-border acquisitions, divestitures and financing. He is a former sessional lecturer and has spoken to legal and business audiences internationally.

  • Blackstone-Led Consortium

    Blackstone-Led Consortium in its $20 Billion Partnership Agreement with Thomson Reuters

  • TPG Capital LP

    TPG Capital LP in its proposed acquisition of Transplace Inc.

  • WS Atkins PLC

    WS Atkins PLC in its acquisition by SNC-Lavalin Group Inc. in a deal worth $3.6 billion

    • Special Committee of INFOR Acquisition Corporation in first qualifying acquisition by a Canadian SPAC.
    • Special Committee of Intertain Corporation in connection with a strategic review and UK redomiciliation transaction.
    • Canadian Oil Sands in connection with response to hostile bid by Suncor and ultimate negotiated transaction.
    • TPG Partners VI, L.P. in its acquisition of Cirque du Soleil.
    • Valeant Pharmaceutical in its acquisition of Salix Pharmaceuticals, Ltd.
    • Tim Hortons Inc. in its $12.5 billion merger with Burger King, creating Restaurant Brands International, a new global powerhouse restaurant company based in Canada.
    • Valeant Pharmaceutical in its arrangements with Pershing Square and proposed acquisition of Allergan.
    • Valeant Pharmaceutical in its $8.7 billion acquisition of Bausch & Lomb Incorporated.
    • Shoppers Drug Mart in its $12.4 billion acquisition by Loblaw Companies Limited.
    • The London Stock Exchange in its proposed merger with TMX Group.
    • Equinox Minerals in its offer for Lundin, response to the Minmetals bid and acquisition agreement with Barrick.
    • Kinross Gold in its business combination with Red Back Mining.
    • Goldcorp in connection with the sale of its controlling interest in Terrane to Thompson Creek Minerals.
    • Addax Petroleum in connection with its acquisition by Sinopec International Petroleum Exploration and Production Corporation.
    • IPSCO Inc. in its sale to SSAB of Sweden.
    • Telus Inc. in its participation in the sale process for BCE Inc.
    • Kinross Gold in its acquisition of Aurelian Resources.
    • Lundin Mining in its proposed business combination with HudBay Minerals Inc.
    • Placer Dome Inc. in the unsolicited offer by and acquisition by Barrick Gold Corporation.
    • China National Petroleum Corporation International in its acquisition by plan of arrangement of Petrokazakhstan.
    • Glamis Gold Corp. in its agreement to combine with Goldcorp.
    • Torstar Corporation in connection with its agreement to sell its interest in CTVglobemedia to BCE Inc.
    • Special Committee of the Board of Directors of Lafarge North America in the offer by Lafarge S.A. to acquire the 46.8% minority held stake.
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Chambers

  • Chambers Global: The World’s Leading Lawyers for Business, 2013-2018, Band 1, Corporate/M&A.
    • "...a world-class business lawyer. He's a smart, clear thinker who is experienced, follows legal issues in the marketplace and always seems to anticipate an issue before it arises in a transaction - he's a trusted adviser in Canada."
  • Chambers Canada: Canada’s Leading Lawyers for Business, 2016-2018, Band 1, Corporate/Commercial (Ontario).

Lexpert

  • The Canadian Legal Lexpert Directory, 2014-2018, Most Frequently Recommended, Mergers & Acquisitions.
  • The Canadian Legal Lexpert Directory, 2014-2018, Most Frequently Recommended, Corporate Commercial Law.
  • The Canadian Legal Lexpert Directory, 2018, Consistently Recommended, Corporate Finance & Securities.
  • The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, 2014-2018, Most Frequently Recommended, Corporate Commercial Law and M&A.
  • The Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada, 2017, Corporate Finance & Securities.
  • The Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada, 2017, Mergers & Acquisitions.
  • The Canadian Legal Lexpert Directory, 2014-2017, Most Frequently Recommended, Corporate Finance & Securities.
  • The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada, 2014-2017, Most Frequently Recommended, Corporate Finance & Securities.
  • The Canadian Legal Lexpert Directory, 2014-2016, Repeatedly Recommended, Mining.
  • Lexpert Special Edition: Leading Canadian Lawyers in Global Mining 2013/14.
  • Lexpert Special Edition: Canada’s Leading Corporate Lawyers 2014.
  • Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada 2013: Corporate Finance & Securities; Mergers & Acquisitions.

Legal 500

  • The Legal 500, 2018, Leading Lawyer, Corporate and M&A.

IFLR

  • IFLR 1000: The Guide to the World’s Leading Financial Law Firms, 2017-2018, M&A.
  • IFLR 1000: The Guide to the World’s Leading Financial Law Firms, 2010-2014, Mergers and Acquisitions.

Who's Who Legal

  • Who’s Who Legal, 2017, Capital Markets.
  • Who’s Who Legal, 2017, Corporate.
  • Who’s Who Legal 2012: Capital Markets; Corporate Governance; Mergers and Acquisitions
  • The International Who’s Who of Mergers and Acquisitions Lawyers 2011: One of the Top 10 Most Highly Regarded Individuals in the World (only Canadian).

Best Lawyers

  • The Best Lawyers in Canada, 2006-2018, Mergers & Acquisitions Law.
  • The Best Lawyers in Canada, 2006-2018, Corporate Law.
  • The Best Lawyers in Canada, 2006-2018, Securities Law.

Expert Guides

  • Expert Guides: The Best of the Best 2013: Mergers and Acquisitions.
  • Expert Guides: The Legal Media Group Guides to the World’s Leading Lawyers 2011: Mergers and Acquisitions.
  • Expert Guides: Leading Practitioners – China 2011: Mergers and Acquisitions (International).

  • Action Canada, Past Chairman, Board of Directors
  • Bloorview Kids Foundation, Member, Board of Directors
  • CI Investments Inc., Member, Board of Directors
  • Woodbine Entertainment Group, Chairman, Board of Directors
  • Toronto Board of Trade, Advisory Council Member

  • Law Society of Ontario
  • Canadian Bar Association
  • University of Toronto Law School, Past President of Alumni Association

  • Where Were the Directors? Clay Horner provided staff assistance to The Toronto Stock Exchange Committee on Corporate Governance in Canada which published this final report in December 1994. The landmark report established guidelines for improved corporate governance in Canada.