Blakes Competitive Edge': January 2023 Update

• Published date: 25 January 2023
• Subject Matter: orporate/Commercial Law, Antitrust/Competition Law, M&A/Private Equity, Antitrust, EU Competition
• Law Firm: Blake, Cassels & Graydon LLP
• Author: Blake, Cassels & Graydon LLP

Welcome to the January issue of Blakes Competitive Edge, a monthly publication of the Blakes Competition, Antitrust & Foreign Investment group. Blakes Competitive Edge provides an overview of recent developments in Canadian competition law, including updates on enforcement activity by the Canadian Competition Bureau (Bureau), recent initiatives and key trends.

Key Highlights

• While the number of completed merger reviews by the Bureau during 2022 started above historical averages, merger review activity slowed considerably in the final quarter of the year Ultimately, 201 merger reviews were completed in 2022, a 14.8% decrease over the same period in 2021 (236) and the third slowest year on record (i.e., since 2012).
• The Bureau enters into a consent agreement to conclude its review of Domtar Corporation's acquisition of Resolute Forest Products Inc.
• The Bureau publishes draft guidance on the upcoming criminal prohibition of wage fixing and no-poach agreements.
• The Bureau publishes its Performance Measurement and Statistics Report for the first half of its 2022-2023 fiscal year.

Merger Monitor

December 2022 Highlights

• 17 merger reviews completed
• Primary industries: manufacturing (18%); mining, quarrying, and oil and gas extraction (12%); real estate and rental and leasing (12%); information and cultural industries (12%)
• One consent agreement (remedy) filed
• One judicial decision filed
• Six transactions received an Advance Ruling Certificate (35%) nine transactions received a No Action Letter (53%)

Annual 2022 Highlights

• 201 merger reviews completed
• Primary industries: real estate and rental and leasing (17%) mining, quarrying, and oil and gas extraction (14%); manufacturing (14%); wholesale trade (11%); finance and insurance (9%)
• Seven consent agreements (remedies) filed
• Two judicial decisions filed
• 103 transactions received an Advance Ruling Certificate (51%) 89 transactions received a No Action Letter (44%)

Merger Reviews Completed in 2022 by Primary Industry

Monthly Merger Reviews Completed, 2021 and 2022

Merger Enforcement Activity

Bureau appeals Competition Tribunal's dismissal of its challenge of the Rogers-Shaw merger

• On January 1, 2023, the Competition Tribunal (Tribunal) released its decision to dismiss the Commissioner's challenge to the merger between Rogers Communications Inc. and Shaw Communications Inc. The Tribunal found the transaction (i.e., the merger of Rogers and Shaw as modified by the divestiture of Freedom Mobile Inc. to...