On December 5, 2013, the Competition Bureau issued a No-Action Letter (NAL) clearing
Thermo Fisher Scientific Inc.'s proposed acquisition of Life
Technologies Corporation. The Bureau issued this clearance based,
at least in part, on a remedy obtained by the European Commission
(EC) in connection with the proposed acquisition in Europe.
Both Thermo Fisher and Life Technologies produce and supply life
sciences products, including laboratory instruments and
consumables, globally, including within Canada, the United States
and Europe. Thermo Fisher's proposed acquisition was subject to
competition review in each of these jurisdictions.
As a condition of approving the merger in Europe, the EC
required Thermo Fisher to divest businesses supplying a variety of
products used in clinical and research applications in the life
sciences sector. Stating that it "worked closely" with
its foreign counterparts, the Bureau was satisfied that the
divestiture of these businesses was sufficient to address concerns
that the acquisition would substantially lessen or prevent
competition in the sale of the relevant products in Canada.
The Bureau's consideration and reliance on remedies obtained
in other jurisdictions to resolve competition concerns in Canada is
but one aspect of the international collaboration taking place
between the Bureau and other antitrust authorities. The Bureau
states that it is increasingly "standard practice" to
consult its foreign counterparts, particularly those in the United
States and Europe, in addition to consulting a wide range of
industry participants within Canada when reviewing a proposed
acquisition with cross-border effects.
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.
To print this article, all you need is to be registered on Mondaq.com.
Click to Login as an existing user or Register so you can print this article.
The Commissioner of Competition addressed innovation, enforcement and policy initiatives at the Competition Bureau in his keynote speech, "Strengthening Competition: Innovation, Collaboration and Transparency."
Used car listing website operator CarGurus Inc.'s attempt to force rival Trader Corporation to supply it with vehicle listing data has encountered a dead end as the Competition Tribunal denied it leave to commence a private application under several provisions of the Competition Act.
Register for Access and our Free Biweekly Alert for
This service is completely free. Access 250,000 archived articles from 100+ countries and get a personalised email twice a week covering developments (and yes, our lawyers like to think you’ve read our Disclaimer).