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Suncor Energy Inc
Symbol SU
Shares Issued 1,281,510,650
Close 2024-07-22 C$ 53.31
Market Cap C$ 68,317,332,752
Recent Sedar Documents

Globe says MEG, rivals hear Bill C-59 may slow deals

2024-07-23 07:24 ET - In the News

See In the News (C-MEG) MEG Energy Corp

The Globe and Mail reports in its Tuesday edition that Bill C-59 amounts to a complete overhaul of Canadian competition laws. The Globe's Jameson Berkow writes that new regulations aim to stop greenwashing by requiring companies to prove their environmental claims. As well, the changes to the review of mergers and acquisitions, along with the potential for higher fines and penalties, could have a much bigger economic impact. Corporate deal-making is declining due to regulatory uncertainty. Experts are concerned about the lack of clarity surrounding the regulatory overhaul, making it difficult for companies to comply. Osler, Hoskin & Harcourt lawyer Shuli Rodal says the new provisions include "language where nobody knows what it means." Norton Rose Fulbright Canada lawyer Chris Hersh says: "Some things were slipped in at committee and then the bill was passed. There was a real rush to get this through before Parliament rose for the summer." Among the most significant last-minute changes was to flip the burden of proof on determining whether a proposed merger is anti-competitive. Now, deal proponents must prove their arrangement is not anti-competitive, and the Competition Commissioner gets to poke holes in their case.

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