On May 4, 2007, Smiths Group PLC completed the US$4.8 billion sale of its aerospace business to General Electric Company. The deal involved regulatory approval from all relevant authorities including the European Union and the US. In Canada, the transaction involved the sale of the aerospace business of Smiths' affiliate, John Crane Canada Inc., to General Electric Canada.
Smiths is a global technology company, listed on the London Stock Exchange. Smiths is a world leader in the practical application of advanced technologies and, after the sale of its aerospace business, has three divisions: Detection, Medical and Specialty Engineering. General Electric Company is a diversified industrial corporation with a portfolio of businesses ranging from jet engines to power generation, financial services to plastics, and medical imaging to news and information.
Smiths and its affiliates were represented in Canada by Fasken Martineau with a team including Anthony Baldanza (competition and Investment Canada), Bruce Blain and Andrew Alleyne (corporate), Dan Law (real estate), Ralph Nero (labour), Ross Gascho and Peggy McCallum (pensions and benefits), Paul Casuccio (commodity tax) and Mitchell Thaw (tax).