OTTAWA, December 5, 2013 — The Competition Bureau announced today that it has issued a No Action Letter (NAL) with respect to the proposed acquisition of Life Technologies Corporation by Thermo Fisher Scientific Inc.
Both companies are active in the production and supply of life sciences products, such as laboratory instruments and consumables. The Bureau is satisfied that the proposed transaction will not substantially lessen or prevent competition in the sale of such products in Canada as a result of, among other things, a remedy obtained by the European Commission (EC).
Under the terms of the agreement with the EC, Thermo Fisher Scientific Inc. has agreed to divest businesses producing and supplying cell culture sera and media products, gene silencing products and magnetic bead products, which are used in clinical and research applications in the life sciences sector.
Over the course of its review, the Bureau consulted with a wide range of industry participants, such as competitors, distributors and customers. As is standard practice when other jurisdictions are reviewing the same transaction, the Bureau worked closely with its counterparts, in this case the EC and the United States Federal Trade Commission. While the Bureau’s priority is to obtain a remedy that resolves competition concerns in Canada, it will, where appropriate, take into consideration and rely on remedies agreed upon in other jurisdictions, provided that such remedies address the Bureau’s concerns.
Mergers and acquisitions in Canada are subject to review by the Bureau under the Competition Act to ensure that they will not result in a substantial lessening and/or prevention of competition. The merger review process involves collecting information from, and conducting interviews with, a wide range of industry participants, including the parties, suppliers, competitors, customers and industry experts.
The Competition Bureau, as an independent law enforcement agency, ensures that Canadian businesses and consumers prosper in a competitive and innovative marketplace.
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