Originally published in Blakes Bulletin on Competition,
Antitrust & Foreign Investment, February 2011
The Commissioner of Competition has announced that the
Competition Bureau plans to make "moderate" revisions to
its Merger Enforcement Guidelines (MEGs). The MEGs, last revised in
2004, set out the framework the Bureau uses to evaluate the
potential competitive effects of mergers.
The Commissioner's announcement follows public consultations
designed to assess whether the MEGs reflect current merger review
practice, as well as to consider whether the recent revisions to
the U.S. Horizontal Merger Guidelines merit changes to the
According to the Bureau's release, the revisions will be
targeted and specific, and will not constitute a wholesale revision
of the current framework. Some of the key areas include:
clarifying the role of market definition in merger review
vis-a-vis other evidence of competition effects;
providing additional guidance on monopsony (buyer power)
further explanation on how the Bureau assesses transactions
involving minority interests or interlocking directorates;
providing more detailed guidance on how the Bureau assesses
unilateral effects, co-ordinated effects and vertical issues;
incorporating the Bureau's Efficiencies Bulletin
into the MEGs.
The Bureau intends to publish the revised draft MEGs in the
second quarter of 2011 and to seek public feedback on the revisions
before publishing the final revised MEGs in the fall.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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