Law firms rack up billions in deals [mine financings] – by Drew Hasselback (National Post – March 7, 2012)

The National Post is Canada’s second largest national paper.

When it comes to mining deals, McMillan LLP appears to have gotten the full benefit out of its recent merger with Lang Michener LLP, while Cassels Brock & Blackwell LLP seems to be living up to its reputation as one of the leading mining firms in the country.

Financing numbers tabulated by our Financial Post Datagroup show that during calendar 2011, McMillan advised issuers listed on the Toronto Stock Exchange who raised $751.5-million through five equity financings. That puts McMillan at the top of our TSX mining financing league table when ranked by deal value.

Lang Michener, which officially joined McMillan on Jan. 1, 2011, brought with it a big book of mining clients, particularly in the firm’s Vancouver office.

Cassels Brock was second in terms of deal value, advising companies listed on the TSX that raised $581-million in equity financings. But Cassels Brock captured the top spot when ranked by number of deals, advising issuers listed on the TSX in 11 deals.

Because lawyers are paid for their time, rather than by the size of the funds raised for clients, deal flow can be a better indicator of the firm’s ability to generate business. Indeed, last year, the Chambers Global 2011 guide assigned Cassels Brock its top “Band 1” ranking in the mining category.

Rounding out the top of the TSX list were Gowling Lafleur Henderson LLP, which ranked third in terms of deal value, advising on three deals worth $495.9-million; and Fasken Martineau DuMoulin LLP, which ranked fourth with four deals worth $223.1-million, and Blake, Cassels & Graydon LLP, which ranked fifth with four deals worth $214.8-million.

Cassels was also a dominant player in the junior end of the business, representing issuers listed on Canada’s junior market, the TSX Venture Exchange, who raised a total $342.8-million. It ranked second in terms of deal flow on the TSX-V, working on six equity deals.

For the rest of this article, please go to the National Post website: http://www.financialpost.com/todays-paper/firms+rack+billions+deals/6262237/story.html

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