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ARTICLE · 08 MARCH 2024

2024 Changes To Canada's Thresholds For Merger Notification And Investment Canada Act Reviews

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The 2024 updates to the notification thresholds under Canada's Competition Act and Investment Canada Act have been announced.

GlobalAntitrust/Competition Law
McMillan LLP
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The 2024 updates to the notification thresholds under Canada's Competition Act and Investment Canada Act have been announced. For the third year in a row the Minister of Innovation, Science and Industry elected to "freeze" the Competition Act size of target threshold at C$93 million to ensure that "a greater share of potential merger transactions will be automatically reviewed by the Commissioner of the Competition Bureau".1 In prior years, the threshold was increased in line with changes to Canada's GDP. The Backgrounder published by Innovation, Science and Economic Development Canada ("ISED") on the decision to freeze the threshold includes a graph showing how many mergers would have avoided mandatory notification if the thresholds had been increased.

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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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