Competition Bureau continues Tervita and Newalta merger review
July 20, 2018 – OTTAWA, ON – Competition Bureau
The Competition Bureau continues to actively review competition concerns related to Tervita Corporation’s merger with Newalta Corporation despite the parties’ announcement that the transaction closed today. The Bureau’s review is focused on the parties’ oilfield waste disposal services within the Western Canadian Sedimentary Basin.
The Competition Act allows for a one-year period following the completion of a transaction during which the Commissioner may bring an application to the Competition Tribunal challenging the transaction.
Mergers in Canada are subject to review by the Competition Bureau to ensure they do not result in a substantial lessening or prevention of competition. If the Bureau determines that a merger is likely to substantially affect competition, it may apply to the Competition Tribunal for an order to dissolve the merger or sell certain assets in order to remedy the harm to competition.
Should the Bureau conclude that a remedy is required, the Bureau will take action where appropriate.
Tervita Corporation is a private energy-focused waste disposal and environmental services company, with operations focused in the Western Canadian Sedimentary Basin.
Newalta Corporation is a publicly-traded company which also provides energy-focused waste disposal services within the Western Canadian Sedimentary Basin.
Under the Competition Act, the Bureau has a mandate to review mergers to determine whether they are likely to result in a substantial lessening or prevention of competition. In appropriate cases, the Bureau will also consider efficiency claims made by the parties.
As part of the Bureau’s normal approach in examining a merger, the Bureau consults with a wide range of industry participants, such as suppliers, competitors, industry associations, customers and industry experts, and considers many different factors, including definition of relevant markets, market concentration, effective remaining competitors and barriers to future entry or expansion by potential competitors, etc.
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