Feedback on the Competition Bureau’s Review of the Merger Enforcement Guidelines

There is a growing recognition, both globally and within Canada, that competition is essential to fostering a strong, resilient and productive economy. Yet, despite this consensus, the Canadian economy is becoming increasingly consolidated and entrepreneurship is in steep decline. We are particularly concerned with serial-acquisition strategies wherein large firms acquire smaller companies in ways that evade regulatory scrutiny.

In light of the recent updates to the Competition Act and increased focus on competition as a critical element of a productive economic landscape, we are delighted to have an opportunity to provide input as to how the Competition Bureau might leverage its new powers to limit anti-competitive mergers.

Our recommendations pertain to:

• The content of the revised guidelines
• The internal operational considerations we believe will be critical to maximizing the impact of merger review as a tool
• Increased accessibility of merger review information

Collectively, the recommendations aim to provide a framework for identifying and analyzing concerning below-threshold mergers, ensuring greater transparency and capturing a more fulsome accounting of costs and benefits in merger analysis.