Terence Corcoran: Canadian competition chief enlists U.S. in bureau's 'monopoly' war fpcomment
The main purpose, it appears, is to support Canada’s Competition Commissioner, Matthew Boswell, in his campaign to rewrite Canadian law along U.S. lines. Khan’s letter to Champagne states that it was written “at the invitation of the Commissioner of Competition, who indicated that the United States’ experience could be of value to Canadian lawmakers.”
The efficiency defence is an impenetrable legal and economic quagmire that essentially allows merging companies to argue that their union will allow them to operate more efficiently and therefore provide long-term economic benefits to the economy. Khan and Kanter imply that Canada should look to the U.S. law and courts for guidance, including words from a U.S.
They then take direct aim at Canadian arguments that efficiencies are necessary to a small country like Canada competing internationally. “Not only do the U.S. agencies refuse to credit vague or speculative claims, we would not give credit to claimed efficiencies that purportedly allow a merged firm to be more competitive internationally. Our skepticism of efficiencies is consistent with the position our counterparts in other jurisdictions have taken.
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