Commissioner will not challenge chemical manufacturing acquisition
News Release
June 28, 2016 — OTTAWA, ON — Competition Bureau
The Competition Bureau has determined that the proposed acquisition of Canexus Corporation by Superior Plus Corp. will likely result in a substantial lessening of competition for the supply of various industrial chemical products in Canada.
However, the Commissioner will not be opposing the acquisition due to the efficiency exception in Canada’s Competition Act.
In conducting its review, the Competition Bureau cooperated closely with the United States Federal Trade Commission (FTC). Each authority reviewed the effects of the transaction under its distinct legal framework. On June 27, 2016, the FTC filed an administrative complaint challenging the transaction.
Quick Facts
- There is an efficiency exception in the Competition Act that involves an assessment of the trade-off between anti-competitive effects and efficiencies. In this case, the Bureau considered factors such as the elimination of overhead costs, freight optimization, and the elimination of duplicate corporate services.
- Superior Plus Corp. and Canexus Corporation are both global suppliers of chemical products used by firms in the pulp and paper, oil and gas, chemical, food, and steel industries, as well as by producers of construction materials.
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