|By Marketwired .||
|March 25, 2014 02:38 PM EDT||
OTTAWA, ONTARIO -- (Marketwired) -- 03/25/14 -- Competition Bureau
The Competition Bureau, the U.S. Federal Trade Commission and the U.S. Department of Justice Antitrust Division today issued best practices on cooperation in merger investigations.
Building on many years of collaboration in reviewing mergers that affect both Canada and the United States, the best practices promote effective coordination among the agencies and increase transparency for the legal and business communities by setting out the practices that the agencies seek to apply when reviewing the same merger.
Recognizing that both the reviewing agencies and the merging parties benefit from efficient processes and consistent outcomes in cross-border merger reviews, the best practices outline current day-to-day cooperation practices relating to inter-agency communication, the coordination of review timetables, the collection and evaluation of evidence, as well as the consideration and implementation of remedies.
Given the important contribution merging parties can make in facilitating cooperation among the agencies, the best practices also provide guidance to businesses on how to work with the agencies to further enhance the coordination of merger reviews.
-- The best practices outline the cooperation practices that the Bureau and the U.S. competition agencies currently seek to apply when reviewing mergers that impact both countries. -- These practices were developed based on years of experience collaborating under the 1995 Canada-U.S. Cooperation Agreement on competition law enforcement. -- Cooperation with the Bureau's international counterparts assists in the effective enforcement and administration of the Competition Act, to the benefit of Canadian consumers and businesses.
"This initiative shows the strength of the Canada-U.S. partnership in competition law enforcement that is based on decades working together to promote competition for the benefit of consumers. These best practices serve not only to support coordination among our agencies, but also advance the Bureau's goal of increasing transparency for our stakeholders in the legal and business communities".
John Pecman, Commissioner of Competition
Follow us on Twitter: @CompBureau
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.