The “But For” World: Competitive Effects and Plausible Remedies 

Apr. 29, 2021

CBA Competition Law Spring 2021 Online Symposium

The “But For” World: Competitive Effects and Plausible Remedies

Presented by the CBA Competition Law and Foreign Investment Review Section

CBA members: $55
CBA Young Lawyer Members (<5 years): $40
CBA Student members: $10
Non-members: $220
Plus applicable taxes

This is the 1st webinar in the CBA Competition Law Spring Online Symposium. All sessions will be presented in English. Registrants will receive an on-demand recording following each webcast. You can purchase the full online symposium at a package rate.

Thursday April 29, 2021 | 11:30 am - 1:00 pm ET


11:30 am - 11:45 am Welcome and Introduction

Navin Joneja, CBA Competition Law Section Chair
Kaeleigh Kuzma, Symposium Chair

11:45 am - 1:00 pm The “But For” World: Competitive Effects and Plausible Remedies

Sponsored by
The Brattle Group

A merger review necessarily involves consideration of the likely effects of the proposed merger as well as the alternative “but for” universe where the merger did not occur. While the “but for” analysis in a complex merger can involve detailed economic modelling based on historical data to support the merging parties’ and the Commissioner’s respective conclusions, it nonetheless remains a predictive exercise. This is particularly true in a COVID-19 world where past is not necessarily prologue. Transactions involving nascent competitors and “prevention” theories of harm make the analysis even more challenging, as a new entrant’s likely trajectory is incredibly difficult to predict. At the same time, the Competition Bureau and other enforcement agencies must remain live to over- or under- enforcement which can ultimately harm competition in the long run. Against this backdrop, does the Competition Bureau’s traditional focus on structural remedies need to be re-examined? Should more consideration be given to behavioural remedies? Should there be less, or more, or faster, merger enforcement? Join our panelists as they discuss the challenges of building counterfactuals, assessing competitive effects, and developing effective yet practical remedies.

Chris Margison, Fasken Martineau DuMoulin LLP

Ariane Jaros-Denis, Associate Deputy Commissioner
Jennifer Mellott, Freshfields Bruckhaus Deringer
Jason Gudofsky, McCarthy Tétrault LLP
Margaret Sanderson, Charles River Associates



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