Noralee Bradley

Executive Vice President and Chief Legal Officer, Nutrien

Advisor to Public and Private Companies on M&A takeovers, Financings and Restructurings, particularly in the Energy Sector.

Media

Building a Better Board

Canadian HR Reporter, December 21, 2016Print

URL: http://digital.hrreporter.com/t/136841-canadian-hr-strategy

The composition of many boards of directors has shifted over the last several years to accommodate changing technology and government mandates, according to an article in Canadian HR Reporter. In his article, John Dujay examines what makes an effective board and outlines the necessary components to efficient governance. Noralee Bradley, a partner in Osler’s Corporate Practice Group who specializes in corporate governance, says one of those components is strategic thinking.

Top 10 Deals of 2016

Lexpert Magazine, February 6, 2017Online

URL: http://www.lexpert.ca/article/top-10-deals-of-2016/

Canadian Oil Sands’ in-house legal team was assisted by Osler, Hoskin & Harcourt LLP, with a team that included Noralee Bradley. Bradley added to Schneider’s description: “The transaction was both interesting and challenging from the COS perspective given the share consideration resulted in moving values for both COS and Suncor shares while the bid was in the market. COS had a single asset [operated independently by Syncrude/Imperial] in which both parties were joint-venture participants and large shareholders were commenting publicly on the deal.”

The New Regime

Lexpert Magazine, June 23, 2016Online

URL: https://www.osler.com/en/about-us/press-room/2016/the-new-regime-lexpert

The Canadian Securities Administrators (CSA) have made significant changes to the Canadian take-over bid regime, and in an article in Lexpert, journalist Sheldon Gordon canvasses a range of legal experts to determine the impact the amendments are expected to have.

Noralee Bradley talks to Listed Magazine about shareholder activism

Listed, The Magazine for Canadian Listed Companies, April 14, 2013Online

URL: https://www.osler.com/en/about-us/press-room/2013/noralee-bradley-talks-to-listed-magazine-about-sha

“One thing we’re seeing is that boards are starting to undertake real navel-gazing exercises,” says Noralee Bradley, a corporate governance specialist with the law firm Osler, Hoskin & Harcourt LLP in Calgary. “They’re asking themselves where the gaps are in their governance and strategy. Of course they’ve always done this, but from a company standpoint, from the inside out.

In the article “Corporate Combat,” Noralee Bradley talks to Alberta Venture about the rise of shareholder activism

Alberta Venture, April 1, 2013Online

URL: https://albertaventure.com/2013/04/corporate-combat-boardroom-battles/

In light of the recent CP-Pershing Square proxy battle and the potential upcoming Agrium-Jana Partners battle, Noralee Bradley, a partner at the Calgary office of Osler Hoskin & Harcourt LLP, says that corporate showdowns are not unusual and have a lot to do with growing investor malaise.

Hostile makeover - Until recently, boards and shareholder activists knew only conflict. Now you see them working together. What happened?

Listed, The Magazine for Canadian Listed Companies, April 21, 2014Online

URL: https://www.osler.com/en/about-us/press-room/2014/hostile-makeover-until-recently-boards-and-sha

THERE HAS BEEN A QUICK succession of phases in board-activist relations in Canada of late, and all co-exist today.

Canadian energy asset sales seen picking up in coming months

Reuters, September 22, 2016Online

URL: https://www.osler.com/en/about-us/press-room/2016/canadian-energy-asset-sales-seen-picking-up-in-com

In an article written for Reuters, reporter John Tilak examines the anticipated uptick in sales of exploration and production assets in the Canadian energy sector in the months ahead.

Calgary oil and gas transaction lawyers wait for the deals to return

Financial Post, National Post, May 13, 2015Online

URL: http://business.financialpost.com/legal-post/calgary-oil-and-gas-transaction-lawyers-wait-for-the-deals-to-return

Meanwhile, other legal moves will fill the void, such as activism. “When you have stocks off 30% to 50% from their highs, that presents opportunities, as does the strength of the U.S. dollar. So for many of our resource companies, an activist shareholder could get a pretty good stake for a relatively small capital investment and be able to get a position that is meaningful with the board or management,” says Noralee Bradley, a partner with Osler, Hoskin & Harcourt LLP.

Activism Comes of Age

Report on Business, The Globe and Mail, June 3, 2013Online

URL: https://www.osler.com/en/about-us/press-room/2013/activism-comes-of-age

Bradley says she has developed a tool that can be used in cases where a dissident wants to turf out a majority of the board. She calls it an “enhanced-quorum requirement.”

The Maturing Market for Shareholder Activism in Canada

Published by Osler Update

January 1, 2014

Ongoing exposure to sophisticated shareholder activism in Canada is moving Canadian corporations to take a more proactive approach.

URL: https://www.osler.com/en/resources/governance/2014/capital-markets-report/the-maturing-market-for-shareholder-activism-in-ca

The board of directors' role in crisis management

Published by Osler White Paper

May 18, 2016

Sooner or later, every enterprise will face a crisis. When it hits, the ability to side-step disaster depends on the effectiveness of your company’s response. Preparedness and oversight of crisis management is a key responsibility of the board of directors.

URL: https://www.osler.com/osler/media/Osler/reports/risk-management/Board-of-directors-role-in-crisis-management.pdf

New Prospectus Exemptions to Facilitate Rights Offerings and Capital Raising from Existing Investors

Published by Osler Update

December 11, 2014

The Canadian Securities Administrators (the CSA) recently published for comment proposed amendments (the CSA Proposal) designed to create a streamlined prospectus exemption for rights offerings by reporting issuers (the Proposed Rights Offering Exemption). On the same day, the Ontario Securities Commission (the OSC) announced the adoption of a new prospectus exemption that will allow reporting issuers listed on certain Canadian stock exchanges to raise capital from existing security holders on a prospectus exempt basis (the Existing Security Holder Exemption).

URL: https://www.osler.com/en/resources/cross-border/2014/new-prospectus-exemptions-to-facilitate-rights-off

How the new take-over bid rules will change Canadian M&A for buyers and targets

Published by Osler Update

May 25, 2016

Mergers and acquisitions (M&A) transactions, whether large or small, have inherent complexities that need to be clearly understood and properly addressed in order to ensure a successful deal.

URL: https://www.osler.com/en/resources/transactions/2016/how-the-new-take-over-bid-rules-will-change-canadi

Debate Continues Regarding Proposed Cooperative Capital Markets Regulatory System

Published by Osler Update

July 25, 2014

On July 9, 2014, on what Finance Minister Joe Oliver called “a landmark day” for reforming Canada’s capital markets regulatory regime, the federal government announced that Saskatchewan and New Brunswick had agreed to join Canada, British Columbia and Ontario in the Cooperative Capital Markets Regulatory System (CCMR).

URL: https://www.osler.com/en/resources/regulations/2014/debate-continues-regarding-proposed-cooperative-ca

Biography

Noralee Bradley’s practice focuses on mergers and acquisitions, financings and corporate and board governance. She has significant experience in mergers involving both public and private companies, friendly and hostile takeover bids and complicated plans of arrangement. Bradley has also served as lead partner in equity and debt offerings in Canada, and sophisticated cross-border financings. Bradley assists many companies in the strategic planning and review of corporate governance policies and their compliance with fiduciary duties and securities regulations. She has been recognized in the areas of Mergers and Acquisitions, Corporate, Commercial and Securities Law; is quoted in Lexpert's top 10 deals of 2016.

Recognition/Reconnaissance

Recognized as a leading Corporate Lawyer in: | Professional

Chambers Canada: Canada's Leading Lawyers for Business (2016-2017); The Best Lawyers in Canada (2016-2017); IFLR 1000: The Guide to the World's Leading Financial Law Firms (2016-2017); The Lexpert/American Lawyer Guide to the Leading 500 Lawyers in Canada (2017); The Canadian Legal Lexpert Directory (2015-2016); Chambers Global: The World’s Leading Business Lawyers (2015); Lexpert Zenith Award (2014).

Additional Titles and Affiliations

Women Presidents’ Organization – Calgary Chapter Member

Law Society of Alberta

Institute of Corporate Directors - Former Chair of Calgary Chapter (2014-2015)

Calgary United Way (Co-Chair of Cabinet for 2015 Campaign)

Angle Energy Inc. (a TSX listed company) Chair of the Board of Directors until sale in December 2013

Past Talks

Special Situations in Corporate Governance

Institute of Corporate Directors Seminar

[/types], June 11, 2012

Shareholder Activism – The New Takeover?

Osler Seminar

[/types], November 21, 2012

Learn How New Takeover Bid Rules Will Change Canadian M&A for Buyers and Targets (Speaker)

Calgary Breakfast Seminar Series

[/types], May 25, 2016

Expertise

  • Takeover Bids
  • Shareholder Activism
  • Plans of Arrangement
  • Equity and Debt Offerings
  • Corporate Finance and Securities
  • Corporate Governance
  • Mergers and Acquisitions

Education/Éducation

  • University of Saskatchewan
    Juris Doctorate (Law)
  • University of Saskatchewan
    B.Comm.