Deals
Pot Is Becoming an Earner for Once Reluctant Toronto Law Firms
- Sector has seen 27 deals worth $10.6 billion this year
- Davies Ward leads Canadian law firms in cannabis M&A work
A customer smokes a joint on cannabis legalization day at a Toronto pot shop on Oct. 17, 2018.
Photographer: Cole Burston/BloombergThis article is for subscribers only.
The legalization of cannabis in Canada may have diminished the need for criminal lawyers, but it’s created a booming business for the country’s most prestigious corporate law firms.
The cannabis sector has seen 27 major deals worth $10.6 billion announced this year, according to data compiled by Bloomberg. Add in 127 stock sales worth $2.65 billion, and advice to clients on how to navigate a complex new regulatory environment, and it’s been a boon for Toronto’s biggest law firms, many of whom had regarded it with trepidation for years.