Blake, Cassels & Graydon, Cassels Brock & Blackwell, Sullivan & Cromwell, and Stikeman Elliott are advising on a massive CA$4.5 billion (US$3.25 billion) deal in which global mining giant BHP Group and Canada’s Lundin Mining are jointly acquiring mining exploration company Filo Corp.

The deal marks the third multibillion-dollar Canadian transaction in the last few weeks, supporting M&A lawyers’ predictions that the market would pick up in the second half of 2024. Historically, mining tends to make up about one-third of deals in Canada.