On May 26, 2016, Raymond James Ltd (“Raymond James”) announced that it had entered into a definitive arrangement agreement to acquire MacDougall, MacDougall & MacTier Inc. (“3Macs”) pursuant to a plan of arrangement, subject to regulatory and shareholder approvals. This acquisition adds 72 advisors to Raymond James' existing private client business, which will now have approximately C$33 billion in client assets under administration. Following closing of the transaction, 3Macs will continue to operate under the 3Macs brand as a division of Raymond James. The transaction creates Canada’s largest independent investment dealer. Raymond James Ltd. is the Canadian arm of Raymond James Financial Inc., a leading diversified financial services company with client assets of approximately US$522 billion. Fasken Martineau advised MacDougall, MacDougall & MacTier Inc. on the transaction, with a team led by Aaron Atkinson including David Steinhauer, Constantinos Ragas and Alexandra Lazar (M&A); Chris Steeves and Corum van Esch (Tax); Karen Sargeant (Employment); Francois Brais and Elise Renaud (Regulatory) and David Hausman (Litigation).