Blakes Competitive Edge': November 2021 Update
Published date | 18 November 2021 |
Subject Matter | orporate/Commercial Law, Anti-trust/Competition Law, Government, Public Sector, M&A/Private Equity, Inward/ Foreign Investment, Antitrust, EU Competition |
Law Firm | Blake, Cassels & Graydon LLP |
Author | Blake, Cassels & Graydon LLP |
Welcome to the November 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
- Merger review activity remained strong through the month of October with 181 merger reviews having been completed year-to-date This is a five per cent increase over the number of reviews completed through the same period in 2019 (172), and a 47 per cent increase over the number of reviews through the same period in 2020 (123).
- Commissioner of Competition, Matthew Boswell, outlines the Competition Bureau's plans to use its increased budget.
- On the class action front, the BCSC struck Competition Act claims on the grounds that section 45 only applies to "sell side" agreements, while the Federal Court denied certification of a class action on the basis that the plaintiffs failed to plead material facts.
Merger Monitor
October 2021 Highlights
- 17 merger reviews completed
- Primary industries: real estate and rental and leasing (41 per cent); mining, quarrying, and oil and gas extraction (18 per cent) and finance and insurance (12 per cent)
- One consent agreement (remedies) filed
- 12 transactions received an Advance Ruling Certificate (71 per cent), while four transactions received a No Action Letter (24 per cent)
January - October 2021 Highlights
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181 merger reviews completed
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Primary industries: manufacturing (20 per cent); real estate and rental and leasing (19 per cent); mining, quarrying and oil and gas extraction (16 per cent); and finance and insurance (12 per cent)
- Two consent agreements (remedies) filed
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120 transactions received an Advance Ruling Certificate (66 per cent), while 59 transactions received a No Action Letter (33 per cent)
Merger Enforcement
Competition Bureau enters into consent agreement with MacEwan Petroleum Inc.
- On October 29, 2021, the Competition Bureau entered into a consent agreement with MacEwan Petroleum Inc and its affiliate, Grant Castle Corp. related to their proposed acquisition of 51 Quickie Convenience Stores, 22 of which include gas stations, in Ontario and Quebec. In the Bureau's review of the transaction, it concluded that the proposed acquisition would likely substantially lessen competition in the supply of gasoline to customers...
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