The proposed deal to take mortgage lender Home Capital private is being reviewed by Canada\u0027s competition watchdog. Read on.
Play Video
The Competition Bureau Canada was responding to a Reuters query on whether it had issued the companies any supplementary information request .Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
The regulator declined to provide a timeline of its review, saying it is obligated to “conduct its work confidentially.” Home Capital and Smith Financial were unavailable for immediate comment. The bureau seeks additional information from merger partners when an acquisition raises concerns about substantial lessening of competition.
Canada’s already consolidated banking industry had two more M&A deals last year, including Smith Financial’s Home Capital bid, giving six lenders control of about 90 per cent of the market. Consumer advocates have complained about higher transaction fees than in the United States.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Welcome to Ottawa, the weather alert capital of CanadaData released by Environment and Climate Change Canada revealed Ottawa had 65 weather advisories and warnings in 2022 – more than any other of the country’s major population centres.
Read more »
Welcome to Ottawa, the weather alert capital of CanadaOttawa had more weather advisories and warnings issued last year than any other Canadian city in the past decade. Here\u0027s why
Read more »
Air Canada’s racist treatment kept me from flight, says Amnesty International Canada headAmnesty International Canada’s general secretary accused Air Canada of racism after she was denied boarding for a flight to Mexico.
Read more »
Toronto home to most Instagrammable stadium in CanadaThe Six has not one but two of the most Instagrammable stadiums in the country – including the No. 1 venue.
Read more »
Bidding Wars 'Back in a Big Way' as Luxury Home Sales RiseSidelined buyers returned to the market in full force at the start of 2023, driving up sales of luxury homes across Canada. REMAXca | realestate realestatenews housingmarket luxury
Read more »
Parisians vote to ban e-scooters from French capitalAn overwhelming majority of Parisians voted to ban electric scooters from the streets of the French capital on Sunday.
Read more »