Industry committee  We look at the impact for sure, but in terms of the threshold to trigger a requirement of a notification for the commissioner to review a transaction, it could have an impact. But we—

Industry committee  As I said before, the bureau has the power to review any mergers in Canada to make sure they don't result in a substantial lessening of competition. We look at different factors. Foreign competition is a factor we look at, but not whether it is a U.S. buyer or a Canadian asset being purchased.

Industry committee  Thank you for your question. If the sale is finalized and exceeds the thresholds prescribed by law, the Bureau can and likely will review the transaction. The Competition Bureau looks at mergers with a view to determining the market share of the parties involved, which competitors will remain in the market following the sale, what degree of market concentration exists and what barriers to entry there are.

Industry committee  As I pointed out earlier, it would depend on whether, following the merger, the parties have high market shares with very high barriers to entry that could result in their acquiring significant strength in the market in question. It would also depend ultimately on whether it can be proven that the merger would lead to a substantial lessening of competition.

Industry committee  If assets were sold, that would be a merger and, in such a case…

Industry committee  We are not currently analyzing the closure of the Montreal refinery. That is not something the Bureau routinely looks at.

Industry committee  In the case of a transaction or a sale, the Competition Bureau has the right, under the merger provisions, to review all transactions in Canada to ensure that there is no substantial lessening of competition. Furthermore, if it were established that there had been a substantial lessening of competition, the Commissioner would have the right to apply to the Tribunal to secure an order.

Industry committee  The factors we consider when we review a merger are…

Industry committee  As I just said, when a merger occurs and it reaches a certain threshold…