Employers often underestimate ongoing employment obligations, say lawyers citing issues of ‘hidden’ liabilities, contracts, constructive dismissal, mitigation and prior service
May 15, 2025
Despite continued uncertainty with the economic upheaval of the U.S. tariffs, business deals keep cropping up in Canada.
Sunoco, for example, recently announced that it plans to pay $9.1 billion for convenience-store operator Parkland Corp., which has 650 retail outlets and 1,830 dealer sites in Canada.
Mutual insurer Beneva and property and casualty mutual insurer Gore Mutual also announced their intent to merge operations by 2026, bringing together more than 6,000 employees. Meanwhile, Calgary-based companies Whitecap Resources and Veren are on track to merge in a $15-billion deal.
But what often goes underreported are the employment challenges that follow such high-stakes integrations. Two employment lawyers, Andrew Bratt and Marni Outerbridge, shared their insights on the fundamental differences between share and asset deals — and why understanding the legal distinctions of M&As is critical for HR leaders.
In Canada, there are two types of transactions for this type of purchase: an asset purchase and share purchase.
“From a labour and employment perspective, it's night and day,” says Bratt.
“The way to look at it is: asset deal, you're basically starting afresh; share deal, you're literally just stepping into the shoes of the seller.”
In the former,...
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