Tag archives: antitrust approvals

2019 merger review thresholds for Competition Act and Investment Canada Act

The threshold for certain pre-closing net benefit reviews under the Investment Canada Act (ICA) and the threshold for a pre-closing merger notification under the Competition Act have been increased for 2019.

Competition Act

Canada uses a two-part test for determining whether a pre-merger notification is necessary. The two-part test is based on the size of the parties and the size of the transaction. The transaction size component can be adjusted annually for inflation. Under the size of the parties test, the parties, together with their affiliates, must have aggregate assets in Canada or annual gross revenues from sales in, from … Continue Reading

Antitrust-approval risks: issues and pitfalls in international M&A agreements

Obtaining antitrust approvals is a key part of the overall transaction process for many M&A transactions. Currently, there are over 100 national and regional antitrust regimes, with new regimes being introduced and existing regimes extended on a regular basis.

Recognizing the growing complexity of the antitrust approval process, merging parties and their counsel increasingly seek to identify required filings and potential substantive antitrust risks early, enabling them to build the results into the transaction timetable.

Requirements to make antitrust filings and obtain antitrust approvals must also be appropriately documented in the Purchase Agreement. However, antitrust-related provisions involve traps for both … Continue Reading