In brief The Government of Canada has announced the 2024 financial thresholds for pre-merger notification and clearance under the Competition Act, and for pre-closing, “net benefit” review and approval under the Investment Canada Act (“ICA”). While the Competition Act “size of transaction” financial threshold remains the same, the ICA financial thresholds have increased. Significantly, this is the third year in a row that the Competition Act financial threshold has remained unchanged at CAD 93 million in a bid…
In brief Modernization of Canadian competition law and foreign investment review is well underway. Recent and further proposed legislative amendments will impact how dealmakers assess substantial and procedural regulatory risk for mergers. This update summarizes the recent legislative amendments to the Competition Act (“Act”) that came into effect on 15 December 2023 and proposed legislative amendments to the Act and Investment Canada Act (“ICA”). Dealmakers should be aware of these amendments as they plan mergers…
In Brief It has been a dynamic year for competition and foreign investment law in Canada, with significant long-term implications for both domestic and global businesses. In 2023, the Government of Canada focused on modernizing Canada’s Competition Act and Investment Canada Act, proposing and advancing legislation that will overhaul existing legislative frameworks. Looking forward, we expect the Government will continue its modernization agenda and the respective authorities will continue to take strong enforcement positions against…