Okay. I'll back up a tiny bit.
As this matter is under review, it would not be appropriate for me to comment on what other witnesses in this proceeding may have said about the transaction.
My remarks today will provide an overview of the bureau’s merger review process. The bureau is an independent law enforcement agency mandated to protect and promote competition in Canada through the enforcement and administration of the Competition Act. The review of mergers is an important pillar of this work.
Generally speaking, mergers of all sizes and in all sectors of the economy are subject to our review. Our merger reviews are conducted through careful consideration of evidence to determine whether a merger is likely to substantially lessen or prevent competition. This test is focused on market power. It evaluates a merger's impact on price as well as non-price dimensions, such as quality, service and innovation. In its review, the bureau collects and analyzes evidence, including interviews, documents and data from the merging parties and a wide range of industry participants. Court orders can also be used to compel information. It is, of course, difficult to predetermine how long a particular merger review will take, as the bureau evaluates the steps that need to be taken on a case-by-case basis.
The enforcement decisions and resolution of issues will depend on the particular circumstances of the matter in question. Approval regarding enforcement decisions resides with me as the commissioner of competition, but should a matter proceed to litigation, the ultimate decision resides with the Competition Tribunal and appellate courts. If I determine that a merger is likely to result in a substantial lessening or prevention of competition, I may apply to the Competition Tribunal for an order to prevent, dissolve or alter the merger. Alternatively, I can negotiate an agreement, that is enforceable by law, with the merging parties without proceeding to litigation. I take this role very seriously.
I want to assure this committee that the bureau's review of the proposed transaction will be very thorough. I will make a principled and evidence-based assessment of its competitive impact and take appropriate action.
We look forward to your questions today.
Thank you.