Keyera Corp. has filed formal responses with the Competition Tribunal, arguing that the Competition Bureau's challenge to its $5.15-billion acquisition of Plains All American Pipeline LP's natural gas liquids business should be dismissed.
The company contends that the regulator's case is built on incorrect assumptions about the competitive landscape of the midstream sector.
In its filings, Keyera asserts that the proposed transaction is pro-competitive and will not harm market dynamics.
The company is pushing back against the Bureau's position, which has effectively blocked the deal pending a full hearing.
This legal escalation marks a significant step in the regulatory review process, moving the dispute from administrative review to formal litigation.
The acquisition of Plains All American's NGL assets is a strategic priority for Keyera, aiming to expand its footprint in the growing natural gas liquids market.