Canada:
Another Efficient Acquisition: Chemtrade and Canexus
20 March 2017
Affleck Greene McMurtry LLP
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The Competition Bureau recently confirmed that it has issued a
No Action Letter in the proposed acquisition of Canexus Corporation
by Chemtrade Logistics Income Fund.
Both Canexus and Chemtrade produce chemicals for the pulp and
paper industry.
This is the second time that the Bureau has found that a
transaction's anti-competitive effects would be
offset by the efficiencies gained from the transaction, including
savings related to transportation costs.
The first time the Competition Act's efficiencies
exception was used was when the Bureau issued a No Action Letter in
relation to Superior Plus Corp.'s proposed acquisition of
Canexus. That deal was
abandoned by Superior Plus when the U.S. Federal Trade
Commission challenged the acquisition.
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