Pre-merger notification transaction-size threshold to remain at $93M in 2023
GATINEAU, QC, Feb. 3, 2023 /CNW/ - The Competition Bureau confirmed today that in 2023 the pre-merger notification threshold relating to transaction size will remain unchanged following a decision by the Minister of Innovation, Science and Industry to maintain the current threshold of $93 million.
Under the Competition Act mergers of all sizes and in all sectors of the economy are subject to review by the Commissioner of Competition. The Competition Bureau must generally be given advance notice of proposed transactions when the target's assets in Canada or revenues from sales in or from Canada generated from those assets exceed $93 million, and when the combined Canadian assets or revenues of the parties and their respective affiliates in, from or into Canada exceed $400 million.
The Commissioner reviews these notifiable transactions to determine if they are likely to prevent or lessen competition substantially.
Under the merger provisions of the Competition Act, the Minister of Innovation, Science and Industry reviews the threshold annually.
The Minister may review the threshold using the indexing mechanism set out in the Act, by prescribing a different amount to be established by regulation, or may leave the threshold unchanged.
When the threshold is not adjusted in a given year, it remains the same as the threshold in the previous year.
Procedures Guide for Notifiable Transactions and Advance Ruling Certificates Under the Competition Act
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The Competition Bureau is an independent law enforcement agency that protects and promotes competition for the benefit of Canadian consumers and businesses. Competition drives lower prices and innovation while fueling economic growth.
SOURCE Competition Bureau
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