Competition Law
VLSS has extensive expertise in various financial aspects of the Competition Act including:
Areas of expertise
The quantification of the benefit derived by wrongdoers from alleged anti-competitive conduct
Assisting in evaluating a merger where it is asserted that, absent the merger, one of the parties is expected to "fail" (the "failing firm defense")
Assisting in evaluating whether the prices charged by a company are lower than avoidable costs ("predatory pricing")
Assisting in the quantification of efficiencies likely to arise from a merger. While the former section 96 Efficiencies Defense no longer exists, variable cost savings remain a relevant consideration in the quantification of alleged anti-competitive effects
Assisting counsel to provide legal advice to potential acquirers as to whether a proposed transaction exceeds the transaction notification thresholds under the Competition Act or Investment Canada Act
Selected representative experience that can be publicly disclosed includes:
Failing firm defense
- American Iron & Metal Company Inc.
Predatory pricing
- Swoop Inc. and WestJet Airlines Ltd. responding to an investigation by the Competition Bureau.
Efficiencies*
- The acquisition by Tervita Corporation (formerly CCS Corporation) of Complete Environmental Inc. on behalf of the Commissioner of Competition (CT-2011-002) (2013 FCA 28) (2015 SCC 3).
- The acquisition by Parrish & Heimbecker, Limited of certain grain elevators and related assets from Louis Dreyfus Company Canada ULC on behalf of the Commissioner of Competition.
- The acquisition by SECURE Energy Services Inc. of Tervita Corporation on behalf of the Parties (CT-2021-002).
- The acquisition by Rogers Communications Inc. of Shaw Communications Inc. on behalf of the Parties (CT-2022-002).
- The acquisition by Parmalat Canada Inc. of the natural cheese business of Kraft Heinz Canada ULC.
- The acquisition by La Coop fédérée's of the retail crop inputs business of Cargill in Ontario.
- The acquisition by Cintas Corporation of G&K Services.
- The merger of Agrium Inc. and Potash Corporation of Saskatchewan Inc.
- The merger of Suncor Energy Inc. and Petro-Canada.
- The acquisition by BCE of Manitoba Telecom Services Inc. (MTS).
* While these engagements were undertaken in the context of section 96, variable cost efficiencies typically formed one aspect of those mandates.