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Apr 1, 2019
Veridian Corporation and Whitby Hydro Complete Merger
On April 1, 2019, Veridian Corporation and Whitby Hydro Energy Corporation amalgamated to form Elexicon Corporation, and their subsidiaries amalgamated to form a single regulated electricity distribution subsidiary, Elexicon Energy Inc., and a non-regulated subsidiary, Elexicon Group Inc.
Elexicon Corporation is owned by the municipal shareholders of the predecessor Veridian Corporation and Whitby Hydro Energy Corporation: Ajax, Belleville, Clarington, Pickering and Whitby.
Elexicon Energy Inc. is the fourth largest municipally-owned electricity distributor in Ontario, providing energy services to more than 162,000 residential and business customers in parts of Durham Region and beyond.
Aird & Berlis LLP acted as joint legal counsel to Veridian and Whitby Hydro in relation to the merger and to the Mergers, Acquisitions, Amalgamations and Divestitures application to the Ontario Energy Board, with a team comprised of Ron Clark, Jeremy Burke, Stephen Crawford and Sarah Newman (Corporate), Dennis O’Leary (Energy), Barbara Worndl (Tax), Lorenzo Lisi and Barbra Miller (Labour & Employment) and Jill Fraser and Alyssa Gebert (Financial Services).