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ARTICLE · 14 FEBRUARY 2022

2022 Merger Thresholds Announced Under Competition Act And Investment Canada Act

Burnet, Duckworth & Palmer LLP
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The Government of Canada has announced the 2022 transaction size thresholds for review under (i) the Competition Act, which will remain unchanged from the previous year...

CanadaAntitrust/Competition Law
Brittney LaBranche
Brittney LaBranche
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The Government of Canada has announced the 2022 transaction size thresholds for review under (i) the Competition Act, which will remain unchanged from the previous year, and (ii) the Investment Canada Act, which will be adjusted upward.

Competition Act

Transactions that exceed both the (i) transaction-size threshold, and (ii), the party-size threshold, require pre-closing merger notification to the Competition Bureau before they can close.

The transaction size threshold will remain static at $93 million for 2022, following a decrease in the previous year. The transaction size threshold is based on the assets of the target entity's Canadian assets, or gross revenue from sales in, from or into Canada generated from those assets. This threshold is adjusted annually based on Canada's nominal GDP. For a transaction to be subject to pre-closing notification, it must also meet the party size threshold of $400 million in aggregate value (which is calculated based on

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