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ARTICLE · 15 JULY 2019

2019 Canadian Merger Notification Threshold Increases

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The 2019 increases to the merger thresholds under Canada's Competition Act and Investment Canada Act have been announced.

CanadaAntitrust/Competition Law
Neil Campbell
Neil Campbell
John Clifford
John Clifford
Joshua Chad
Joshua Chad
James Musgrove
James Musgrove
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The 2019 increases to the merger thresholds under Canada's Competition Act and Investment Canada Act have been announced.

Competition Act

The Competition Act requires advance notification of certain merger transactions involving operating businesses in Canada where "size-of-parties" and "size-of-target" financial tests both are exceeded:

  • The "size-of-target" test requires that the value of assets in Canada to be acquired, or owned by the corporation the shares of which are being acquired, or the annual gross revenue from sales in or from Canada generated by those Canadian assets, exceeds a specified threshold. The Competition Bureau has announced that the "size-of-target" threshold will be increased to C$96 million for 2019. The new threshold will take effect immediately following publication in the Canada Gazette, which is expected to occur on February 2, 2019. This represents a $4 million increase from the C$92 million threshold for 2018.

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The foregoing provides only an overview and does not constitute legal advice. Readers are cautioned against making any decisions based on this material alone. Rather, specific legal advice should be obtained.

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