Competition Act 1998

Canada Bread sentenced to $50 million fine after pleading guilty to fixing wholesale bread prices

Retrieved on: 
Wednesday, June 21, 2023
Giant, Ontario Superior Court of Justice, Canada Bread, Bread, Maple Leaf Foods, Competition Act 1998, Competition Act, Bureau, Competition Bureau, Public, Immunity, PPSC, GWL, George Weston Limited, Metro Inc., Limited, Giant Tiger, George Weston Foods, Public Prosecution Service of Canada, Walmart, Loblaw Companies, General store, Drug, QC, Sobeys

Canada Bread admitted that it arranged with its competitor, Weston Foods (Canada) Inc., to increase prices for various bagged and sliced bread products, such as sandwich bread, hot dog buns and rolls.

Key Points: 
  • Canada Bread admitted that it arranged with its competitor, Weston Foods (Canada) Inc., to increase prices for various bagged and sliced bread products, such as sandwich bread, hot dog buns and rolls.
  • At the time of the price-fixing, Canada Bread was under the ownership of Maple Leaf Foods.
  • The fine represents the maximum applicable under the law, less a leniency discount for Canada Bread's cooperation and guilty plea.
  • The record fine for Canada Bread is a significant milestone in the Bureau's ongoing investigation.

Grindrod Shipping Holdings Ltd. Announces Agreement With Taylor Maritime Investments Limited

Retrieved on: 
Wednesday, October 12, 2022
Competition Act 1998, NASDAQ, JSE Limited, TMI, South African rand, Mergers and acquisitions, Treasury, Cape Verdean football clubs in African competitions, Failure, Communication, Policy, Competition Act, Person, LLC, Jefferies Group, South African Reserve Bank, Company, GLOBE, Report, Offer and acceptance, Special dividend, Independent, Independent financial adviser, Board, Letter, WILL, Schedule, Joint, Documentation, SEC, Schedule 1, JSE, Security (finance), Cryptocurrency, Grindrod, Offer, Share (finance)

Under the terms of the Offer, shareholders of the Company (Grindrod Shareholders) will be entitled to receive the offer price of US$21.00 in cash for each Share tendered in the Offer.

Key Points: 
  • Under the terms of the Offer, shareholders of the Company (Grindrod Shareholders) will be entitled to receive the offer price of US$21.00 in cash for each Share tendered in the Offer.
  • As mandated by the Financial Surveillance Department of the South African Reserve Bank, Grindrod shareholders holding their Shares on the JSE will receive their Offer consideration in the equivalent amount of South African Rand.
  • Grindrod Investments Proprietary Limited, an entity that holds approximately 10.12% of the outstanding Shares, has entered into a Tender and Support Agreement pursuant to which, subject to the terms and conditions set forth therein, it has agreed to tender its Shares into the Offer.
  • Fried, Frank, Harris, Shriver & Jacobson LLP, Allen & Gledhill LLP and Edward Nathan Sonnenbergs Inc. are providing legal counsel to the Company.