We're evaluating the competitive dynamics of an industry at the time that a particular transaction is taking place. That allows the framework of the Competition Act to live, so to speak, in the real world of competition as it's occurring now. What we look at with respect to merger transactions is whether that particular transaction is going to result in a substantial lessening of competition. We're not looking at general consolidation in an industry. We're looking at the particular parties to the transaction, their business, the competitive dynamics in which they operate, to determine whether or not there's going to be a price increase or quality decrease as a result of that particular transaction. If we do find that, we aren't, ultimately, the decision-maker to challenge that transaction. It is the commissioner who brings an application before the Competition Tribunal, a specialized tribunal, who ultimately makes the decision as to whether it's an anti-competitive merger.
On November 1st, 2016. See this statement in context.