Cheryl Satin
Partner | Toronto
Toronto: 416-863-2575

Cheryl's practice focuses on mergers and acquisitions, divestitures, private equity investments and corporate reorganizations. She has substantial experience in negotiating and advising in connection with acquisitions and divestitures for both public and private companies, with a particular focus in the financial services, insurance and life sciences industries.

Cheryl also has extensive experience in assisting clients in the life sciences and insurance industries in connection with their commercial outsourcing arrangements. In the life sciences area, she routinely acts for manufacturers and distributors of pharmaceutical products and medical devices in connection with their product licensing, marketing, distribution, and supply arrangements. For financial institutions and insurers, she regularly advises in connection with the implementation of insurance programs and national and international reinsurance arrangements.


Recent representative matters include acting for:

Life Sciences

  • Catalent Pharma Solutions Ltd., as Canadian counsel, on its purchase of all of the shares of Accucaps Industries Ltd. from Apotex Holdings Inc.
  • GlaxoSmithKline plc, as Canadian counsel, in connection with the Canadian aspects of its major three-part inter-conditional transaction with Novartis AG involving its vaccines, oncology and consumer healthcare businesses (this deal was named Matter of the Year in the 2015 GCR Awards)
  • A leading multinational pharmaceutical company, Canadian counsel, on the sale of its ortho-clinical diagnostics business to an American-based global asset management firm
  • A leading brand pharmaceutical company with the Canadian aspects of a global acquisition of two highly profitable drugs and the related business infrastructure required to sustain the associated state of the art patient assistance programs

Financial Services/Insurance

  • Canadian Western Bank on the sale of Canadian Direct Insurance to Intact Financial Corporation for C$197-million
  • Transamerica/Aegon on the C$600-million sale of its business in Canada to Wilton Re/CPPIB
  • VRG Capital in connection with its backing of a management buy-out of Jones Brown Inc., and the subsequent acquisition of Pearson Dunn Insurance
  • Three leading Canadian trust companies in connection with the divestitures of their corporate trust and stock transfer businesses
  • Intact Financial Corporation with its C$2.6-billion acquisition of the Canadian insurance businesses of AXA S.A

Food, Beverage & Agribusiness

  • Maple Leaf Foods Inc. on the sale of its animal nutrition and Rothsay businesses
  • Canada Bread Company, Limited on its acquisition of Saputo Bakery Inc., Sobeys Bakery Division, and Parisco Limited

Cheryl is recognized in:

  • Who's Who Legal: Life Sciences 2016
  • The Lexpert Guide to the Leading US/Canada Cross-Border Corporate Lawyers in Canada 2015 (Corporate Lawyers to Watch)
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Author: Health Care M&A Transactions in Canada
Health Care Mergers and Acquisitions Answer Book, Practising Law Institute, pp. 1163-1207, 2016.
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Panellist: Proactively Addressing Risk in Your Third Party Contract
Women, Influence & Power in Law Conference, Washington, D.C., September 21-23, 2016.
Panellist: Managing Legal Challenges with Foreign Subsidiaries
Women, Influence & Power in Law Conference, Washington, D.C., October 29-30, 2015.
Panellist: Changing Global Perceptions in the Pharmaceutical Industry
Global Leaders in Law Conference, Davos, Switzerland, March 4-6, 2015.
Panellist: Managing Cross-border Transactions
Women, Influence & Power in Law Conference, Washington, D.C., September 17-19, 2014.
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