Canada: M&A/Private Equity

Earn-out clauses have become increasingly popular in M&A transactions, particularly during periods of economic uncertainty, as they help bridge valuation gaps between buyers and sellers by tying a portion of the purchase price to post-closing performance. While these arrangements offer flexibility and risk-sharing benefits, they also present significant challenges in terms of metric selection, structural design, and potential litigation.

Osler's Summer 2026 PE Points newsletter explores the rising prominence of essential services businesses in Canadian private equity, featuring insights from a former M&A lawyer turned entrepreneur, practical guidance on AI-driven deal structuring, and critical updates on co-investment mechanics, continuation vehicles, and evolving M&A market dynamics. The edition examines how institutional capital is increasingly flowing toward non-discretionary services platforms while traditional software models face AI d

Canada's Competition Bureau has significantly altered its merger review approach since 2022 amendments to the Competition Act, with more transactions classified as complex and longer review timelines. The Bureau is also issuing fewer Advance Ruling Certificates while parties increasingly employ "pull and refile" strategies to avoid Supplementary Information Requests, raising important questions about the practical implications of the new remedial standard.

Private equity sponsors investing in AI-driven platforms face unique challenges that traditional software acquisition playbooks fail to address. From assessing training data rights and third-party dependencies to structuring earn-outs tied to algorithmic performance, sponsors must adapt their approach across the entire investment lifecycle to protect deal value and execute post-close strategies.

Welcome to the July issue of Blakes Competitive Edge, a monthly publication of the Blakes Competition, Antitrust & Foreign Investment group. Blakes Competitive Edge provides an overview of recent developments in Canadian competition and foreign investment law, including updates on enforcement activity by the Canadian Competition Bureau (Bureau), recent initiatives and key trends.

Explore recent developments in Canadian tax law, corporate restructuring, and energy policy through expert legal analysis. From employee ownership trusts to carbon capture tax credits, discover how regulatory changes are shaping business strategy and compliance requirements across multiple sectors.

L'édition de juin 2026 d'Avantage concurrentiel par Blakes examine les développements récents en droit de la concurrence et en investissement étranger au Canada. Cette publication mensuelle analyse les activités d'application de la loi du Bureau de la concurrence, incluant une augmentation notable des examens de fusions et plusieurs demandes d'autorisation pour des actions fondées sur des allégations d'abus de position dominante contre des entreprises majeures.

Canada's new Defence Industrial Strategy aims to allocate 70% of defence acquisitions to domestic firms and create up to 125,000 jobs by 2035, fundamentally reshaping procurement, funding, and regulatory frameworks. This ambitious initiative introduces new opportunities and compliance requirements for small- and medium-sized businesses, investors, and M&A firms operating in defence and dual-use technology sectors. Companies must navigate evolving Canadian content requirements, intellectual property protecti

La nouvelle Stratégie industrielle de défense du Canada vise à diriger 70 % des acquisitions de matériel de défense vers des entreprises canadiennes et à créer jusqu'à 125 000 emplois d'ici 2035. Cette transformation majeure du secteur de la défense crée d'importantes occasions pour les PME, les investisseurs et les acteurs des fusions-acquisitions, tout en imposant de nouvelles exigences en matière de contenu canadien, de propriété intellectu