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ARTICLE · 09 FEBRUARY 2023

Canada Announces 2023 Transaction Review Thresholds For Competition Act, Investment Canada Act

Blake, Cassels & Graydon LLP
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The Government of Canada recently announced the monetary thresholds that determine whether a review is required under the Competition Act and Investment Canada Act for 2023.

CanadaAntitrust/Competition Law
Blakes Competition & Antitrust Group
Blakes Competition & Antitrust Group
Blakes Foreign Investment Group
Blakes Foreign Investment Group
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The Government of Canada recently announced the monetary thresholds that determine whether a review is required under the Competition Act and Investment Canada Act for 2023. Where a transaction exceeds the applicable monetary and control thresholds under these statutes, parties to the transaction are required to submit a filing and undergo a review before the transaction can close.

It is important to consult with Canadian counsel to assess which thresholds apply given the technical nature of the rules and the government's ability to review transactions before or after closing, even if they do not meet the relevant thresholds.

COMPETITION ACT

A transaction is subject to mandatory pre-merger notification if both the "size of transaction" and "size of parties" thresholds are exceeded. The size of transaction threshold is based on the book value of the assets in Canada of the target and its subsidiaries or the gross revenues from sales in or from Canada generated

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