CRA economists Matthew Cormier and Serge Moresi provided comments to the Canadian Competition Bureau’s review of the Merger Enforcement Guidelines (MEGs). Part 1 of the MEGs outlines factors for determining whether a minority interest is a “significant interest,” and Part 10 describes the Bureau’s analysis of minority interest transactions and interlocking directorates.
The Bureau has indicated that it may consider additional guidance on minority interests in the next MEGs. These comments respond to these specific inquiries made by the Bureau:
- How should analysis of market shares and concentration account for minority interests?
- Do the guidelines provide enough guidance on assessing minority interests in all relevant circumstances? Is further detail needed?
- Do the guidelines provide enough guidance on assessing common ownership, including by institutional investors?
Please click here to read the full comments.
