By Sandy Walker As reported in our year‐ end review
(Competition and Foreign Investment Review in Canada: Taking
Stock of 2011 and Looking Ahead to 2012, available
here), the Commissioner of Competition challenged the completed
merger of two landfill companies in northern British Columbia, CCS
Corporation and Complete Environmental – the first
contested merger case since 2005. On May 29, the Competition Bureau
announced its challenge was successful – a significant
case because not only was it a non‐notifiable transaction
but the Bureau had to argue that the merger would lead to a
substantial prevention of competition as the target, Complete
Environmental, had not yet commenced its operations.
The Competition Tribunal ordered divestiture of Complete
Environmental's Babkirk hazardous waste landfill site. Vendors
in M&A transactions may be relieved to learn that the Tribunal
did not follow the Commissioner's preferred alternative
– to dissolve the merger, a result that can be punitive
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On April 29, 2013, the Government of Canada tabled its budget implementation bill, the Economic Action Plan 2013 Act, which includes proposed amendments to the Investment Canada Act, particularly in relation to state-owned enterprises.
Following its approval in December 2012 of two high-profile transactions involving foreign state-owned enterprises acquiring Canadian businesses, the Canadian government announced new policies that would guide the minister of industry in applying the Investment Canada Act (ICA) to subsequent similar transactions.
On April 18, 2013 before Justice L.D. Ratushny of the Ontario Superior Court of Justice, a Japanese supplier of motor vehicle components, Yazaki Corporation ("Yazaki") pleaded guilty to three counts of bid-rigging, in violation of subsection 47(2) of the Competition Act.