Competition Act Review Threshold Remains Same For Third Year In Row While Investment Canada Act Review Threshold Increases For 2023

Competition Act Thresholds

For the third year in a row the Competition Bureau announced that the transaction-size threshold for pre-merger notification under the Competition Act will be $93 million.

Generally, acquisitions may be subject to mandatory pre-notification where:

1. the aggregate value of the target firm's assets in Canada, or the gross revenues from sales in or from Canada generated from those assets, exceeds the size of transaction threshold; and
2. the parties to the transaction, together with their affiliates, have assets in Canada that exceed $400 million in aggregate value, or had gross revenues from sales in, from or into Canada that exceed $400 million.

Further, certain other non-financial thresholds may apply depending on the structure of the deal.