Merger review under the Competition Act (the “Act”) is undergoing significant change. As discussed in our previous blog post, the Federal Government has proposed significant amendments to the Act. These amendments, which are included in Bill C-56 and Bill C-59 (together, the “Bills”) and touch on virtually all facets of competition policy in Canada, represent “generational changes” that, according to the Government’s 2023 Fall Economic Statement, are intended to “help bring Canada into alignment with international best practices to ensure that our marketplaces promote fairness, affordability, and innovation”.Continue Reading Proposed amendments to the merger review process in Canada: Implications for businesses

Federal Government Releases Proposed Bill relating to Fall Economic Statement – including Significant Competition Act Amendments

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Revised text of Bill C-56 Released

On November 27, 2023, the Federal Government passed a Notice of Ways and Means Motion to introduce a bill entitled An Act to implement certain provisions of the fall economic statement tabled in Parliament on November 21, 2023 and certain provisions of the budget tabled in Parliament on March 28, 2023, which was tabled on November 30, 2023 as Bill C-59 (the “Bill”). The Bill proposes amendments that implement some of the goals discussed in the 2023 Fall Economic Statement  to strengthen competition in Canada (as discussed in our previous blog post).Continue Reading Significant Competition Act Amendments on the Horizon

On November 21, 2023, the Federal Government released its 2023 Fall Economic Statement (the “Statement”). The Statement lays out the Federal Government’s multifaceted plan to improve housing in Canada, support the middle class, bolster the economy and create a stable financial sector. Additionally, the Statement outlines the Federal Government’s desire to strengthen competition in Canada through proposed amendments to the Competition Act (the “Act”). More specifically, the Statement discusses changes aimed at combatting alleged dominance abuses by large companies, modernizing merger reviews, protecting consumers from misleading claims and enabling private entities to engage in legal proceedings related to anti-competitive practices. These changes, according to the Statement, “will help bring Canada into alignment with international best practices to ensure that our marketplaces promote fairness, affordability, and innovation.”Continue Reading Federal Government Releases Fall Economic Statement – with New Competition Act Amendments Previewed

On September 18, 2023, Bill C-352, which was introduced by Jagmeet Singh (leader of the NDP), had its first reading in the House of Commons (the “Singh Bill”). On September 21, 2023, Bill C-56, which was introduced by Chrystia Freeland (Deputy Prime Minister and Minister of Finance), also received its first reading in the House of Commons (the “Government Bill”). Each of these bills includes significant proposed amendments to the Competition Act in response to the ongoing public consultation and legislation review process regarding competition policy in Canada.

While each of the bills share some similarities (including, for example, the introduction of market study powers and removal of the efficiencies defence), the bills include a number of different proposals and the Singh Bill includes overall more substantive recommendations for amendments to Canada’s existing competition law regime.Continue Reading Proposed Amendments to the Competition Act receive first reading in House of Commons

In an unprecedented intervention by the European Commission (EC), the EC recently asserted jurisdiction over and challenged a United States-based merger that falls below the filing thresholds of the EC and each and every European Union Member State. This action threatens to subject future merger transactions with no material connection to European commerce to merger control by the EC. An extraordinary Statement of Concerns, signed-on by former senior competition law agency leaders and competition law experts from around the world, recently published in Concurrences highlights the harmful implications of the overreach by the EC for predictable global competition law enforcement.  Also, in another first, five former Competition Commissioners from Canada are jointly waving the red flag with respect to the EC’s disregard of well-accepted norms established by the Organization for Economic Cooperation and Development (OECD) and the International Competition Network (ICN) as well as longstanding jurisprudence concerning jurisdiction for the purpose of international merger review.Continue Reading Buyer Beware!  Aggressive Competition Watchdogs Trying to Block More International Deals – a cautionary tale from the Illumina-GRAIL merger challenge