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Lax merger laws in Canada underestimate the harm to competition caused by mergers and overestimate their benefits, a new report says.
Gaps in Canada’s merger laws have failed to prevent the kind of acquisitions that allow big firms to “extinguish competitive threats and entrench their dominance,” according to the Centre for International Governance Innovation.
Canada has fallen “way behind” other jurisdictions such as the United States, said Keldon Bester, a fellow with the centre and the author of the report.
He compared Canada’s existing regime to a set of faulty brakes. “Our laws today are like brakes on a car going downhill. We know we’re going downhill, but we’d like to go there a little bit slower,” he said in an interview....