Pre-merger notification transaction-size threshold decreases to $93M in 2021

News release

February 11, 2021 - GATINEAU, QC - Competition Bureau

The Competition Bureau announced today that the 2021 pre-merger notification threshold relating to transaction size will decrease to $93 million from the 2020 threshold of $96 million.

Under the Competition Act, mergers of all sizes and in all sectors of the economy are subject to review by the Commissioner of Competition. The Competition Bureau must generally be given advance notice of proposed transactions when the target’s assets in Canada or revenues from sales in or from Canada generated from those assets exceed $93 million, and when the combined Canadian assets or revenues of the parties and their respective affiliates in, from or into Canada exceed $400 million.

The Commissioner reviews these notifiable transactions to determine if they are likely to prevent or lessen competition substantially.


Quick facts

  • The 2021 threshold will come into effect immediately following publication in the Canada Gazette Part 1, which is anticipated on February 13, 2021.

  • Under the merger provisions of the Competition Act, the Minister of Innovation, Science and Industry reviews the threshold annually.

  • The Minister may review the threshold using the indexing mechanism set out in the Competition Act, by prescribing a different amount to be established by regulation, or may leave the threshold unchanged.

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