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Federal appeals court upholds decision blocking Calgary oilfield services merger

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Federal appeals court upholds decision blocking Calgary oilfield services merger yycbiz

Secure Energy Services announced in March 2021 that it would acquire Tervita Corporation in an all-stock deal valued at $478 million. Both operate environmental services and dispose of waste produced by oil and gas operations across Western Canada.by substantially weakening competition in 143 markets across Western Canada.

Secure said it’s now considering next steps, including a possible appeal to the Supreme Court of Canada. The sale of assets targeted by the tribunal could occur if the current situation is not resolved, it stated.From 2021: Energy consolidation escalates as rising oil price eases urgency

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Federal appeals court upholds decision blocking Calgary oilfield services mergerCompetition Bureau blocked merger of Secure and Tervita, arguing it would substantially weaken competition across Western Canada
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