Shuli is an internationally recognized competition law and foreign investment lawyer and Chair of Osler’s highly regarded Competition Law, Trade and Foreign Investment group. Shuli has over 25 years of experience in all aspects of competition law and foreign investment review, representing Canadian, U.S. and international clients on matters of strategic importance.
Shuli’s competition law expertise includes mergers and acquisitions, strategic alliances, price fixing and bid-rigging investigations, abuse of dominance, pricing and distribution matters, and marketing and advertising. She provides counselling to companies on compliance under the Competition Act and conducting internal antitrust investigations and audits, and represents clients before the Competition Bureau. Shuli advises clients on the full range of strategic issues arising under the Investment Canada Act, including the unique issues arising in the entertainment and cultural areas as well as in connection with national security reviews. She has successfully obtained clearances under the Competition Act and Investment Canada Act for numerous complex and high profile transactions.
Shuli is sought out and trusted by businesses across a broad range of industry sectors, including technology, financial services, entertainment, media, manufacturing, automotive, chemicals, energy and mining, agriculture, real estate, retail, medical, food and consumer packaged goods, and transportation.
Shuli is currently a member of the Executive of the National Competition Law and Foreign Investment Review Section of the Canadian Bar Association, and has served as Chair of the Mergers Committee, Reviewable Practices Committee and Legislation and Policy Committee. Shuli is also a past Chair for the Canadian Bar Association’s Competition Law Fall Conference.
She has published many articles and spoken widely on various competition law and foreign investment topics. She has appeared before the Canadian Parliamentary Committees responsible for Industry, Science and Technology and Canadian Heritage.
Shuli is Chair of the Firm’s Diversity Committee.
Areas of Expertise
Representative Work
- GE Healthcare Technologies Inc.
GE HealthCare in its agreement to acquire Intelerad for US$2.3 billion
- Clio
Clio in its US$1-billion acquisition of vLex and US$500-million Series G investment round
- Xanadu Quantum Technologies Inc.
Xanadu in its cross-border de-SPAC transaction
- Create Music Group
Create Music Group in its acquisition of Monstercat
- Purolator
Purolator in its acquisition of Livingston International
- Pattern Energy
Pattern Energy in its sale of significant interests in two Ontario-based wind projects
- Volkswagen
Volkswagen in its $69-million investment in Patriot Battery Metals
- BC Partners Advisors
Apollo Global Management, Inc. and BC Partners in connection with their agreement to buy GFL Environmental Inc.’s environmental services business valued at $8 billion
- Cygnus Metals
Cygnus Metals in its business combination agreement with Doré Copper Mining Corp. for $24 million
- A significant shareholder
A selling shareholder in Newen Studios’ acquisition of Johnson Production Group
- Mevotech LP
Penfund in connection with TorQuest’s acquisition of Mevotech
- Fusion Pharmaceuticals Inc.
Fusion Pharmaceuticals in its acquisition by AstraZeneca
- iCON Infrastructure
iCON Infrastructure in its investment in QSL
- Special Committee of Tricon Residential
Special Committee of Tricon Residential in its US$3.5 billion acquisition by Blackstone
- First Quality Enterprises LLC
First Quality Enterprises in its acquisition of Domtar’s Pulp and Paper Mill in Dryden, Ontario
- BAI Communications
BAI Communications in the sale of its Canadian business to Rogers Communications
- CNH Industrial
CNH Industrial in its agreement to acquire Hemisphere GNSS for $175 million
- Nichi-Iko Pharmaceutical Co., Ltd
Nichi-Iko Pharmaceutical Co. in its US$100-million sale to Ellimist Singapore Pte. Ltd.
- Dream Industrial REIT
Dream Industrial REIT in its $5.9 billion acquisition, in partnership with a leading global sovereign wealth fund, of Summit Industrial Income REIT
- General Motors Co.
General Motors Co. in its US$650 million equity investment in Lithium Americas Corp.
- MoonPay
MoonPay in its acquisition of Nightshift
- LifeWorks
LifeWorks in its $2.9 billion acquisition by TELUS
- Kinross Gold Corporation
Kinross Gold Corporation in its US$225 million sale of Chirano mine to Asante Gold Corporation
- Kinross Gold Corporation
Kinross Gold Corporation in its US$1.4-billion acquisition of Great Bear Resources
- Apollo Global Management Inc.
Apollo Global Management in its $3.3 billion acquisition of Great Canadian Gaming Corporation
- Chemtrade Logistics Income Fund in its $890 million take-over bid for Canexus Corporation.
- COM DEV in connection with its acquisition by a subsidiary of Honeywell International Inc. by way of a plan of arrangement and its spinoff of exactEarth Ltd.
- BMO Financial Group in its acquisition of General Electric Capital Corporation’s Transportation Finance Business
- Calloway REIT in its $1.16 billion acquisition of SmartCentres
- Shoppers Drug Mart in connection with its proposed $12.4 billion acquisition by Loblaw Companies Limited
- Carl C. Icahn in his takeover bid for Lions Gate Entertainment Corp.
- Chemtrade Logistics Income Fund in connection with its acquisition of Marsulex Inc.
- TELUS Health in connection with the 2014 acquisition of XD3 Solutions (a provider of pharmacy management solutions) and the acquisition from ZoomMed of an interest in ZRx Prescriber (a web based prescription solution), as well as the 2012 acquisitions of KinLogix, the largest provider of cloud based Electronic Medical Records (EMR) in Quebec, and Wolf Medical Systems, Canada’s leading EMR solution provider
- Dundee REIT in connection with its $1.4 billion acquisition of Whiterock REIT and the acquisition of Scotia Plaza, and various other transactions and arrangements
- Entertainment One in its acquisition of Alliance Films
- Georgia Gulf Corporation in its merger with the commodity chemicals division of PPG Industries, Inc. for $2.1 billion
- Maple Leaf in connection with the acquisition of the Puratone Corporation
- Maple Leaf in connection with the sale of its 90% interest in Canada Bread to Grupo Bimbo
- Olivieri Foods Limited in the sale of all of its assets to Catelli Foods Corporation
- Placer Dome Inc. in its response to the unsolicited bid from Barrick Gold Corporation and subsequent negotiated $10.4 billion acquisition
- Quad/Graphics on the sale of its Canadian printing business to Transcontinental
- SANYO Electric Co. Ltd. in its US$9 billion acquisition by Panasonic Corp.
- U.S. Steel Corporation in its acquisition of Stelco and in connection with its litigation with Industry Canada regarding the performance of its undertakings
- Shoppers Drug Mart Corporation in its acquisition of the HealthAccess division of Calea
- Royal Bank of Canada in connection with its acquisition of the Canadian automobile finance and deposit business of Ally Financial Inc.
- Enterprise Holdings in connection with the investigation by the Competition Bureau into industry marketing practices
- Enterprise Holdings Inc. in its Canadian subsidiary’s acquisition of Canadian Discount Car and Truck Rentals
- Competition advice on various transactions and arrangements in the health care and pharmaceutical sectors
GE HealthCare in its agreement to acquire Intelerad for US$2.3 billion
Clio in its US$1-billion acquisition of vLex and US$500-million Series G investment round
Xanadu in its cross-border de-SPAC transaction
Create Music Group in its acquisition of Monstercat
Purolator in its acquisition of Livingston International
- Pattern Energy
Pattern Energy in its sale of significant interests in two Ontario-based wind projects
- Volkswagen
Volkswagen in its $69-million investment in Patriot Battery Metals
- BC Partners Advisors
Apollo Global Management, Inc. and BC Partners in connection with their agreement to buy GFL Environmental Inc.’s environmental services business valued at $8 billion
- Cygnus Metals
Cygnus Metals in its business combination agreement with Doré Copper Mining Corp. for $24 million
- A significant shareholder
A selling shareholder in Newen Studios’ acquisition of Johnson Production Group
- Mevotech LP
Penfund in connection with TorQuest’s acquisition of Mevotech
- Fusion Pharmaceuticals Inc.
Fusion Pharmaceuticals in its acquisition by AstraZeneca
- iCON Infrastructure
iCON Infrastructure in its investment in QSL
- Special Committee of Tricon Residential
Special Committee of Tricon Residential in its US$3.5 billion acquisition by Blackstone
- First Quality Enterprises LLC
First Quality Enterprises in its acquisition of Domtar’s Pulp and Paper Mill in Dryden, Ontario
- BAI Communications
BAI Communications in the sale of its Canadian business to Rogers Communications
- CNH Industrial
CNH Industrial in its agreement to acquire Hemisphere GNSS for $175 million
- Nichi-Iko Pharmaceutical Co., Ltd
Nichi-Iko Pharmaceutical Co. in its US$100-million sale to Ellimist Singapore Pte. Ltd.
- Dream Industrial REIT
Dream Industrial REIT in its $5.9 billion acquisition, in partnership with a leading global sovereign wealth fund, of Summit Industrial Income REIT
- General Motors Co.
General Motors Co. in its US$650 million equity investment in Lithium Americas Corp.
- MoonPay
MoonPay in its acquisition of Nightshift
- LifeWorks
LifeWorks in its $2.9 billion acquisition by TELUS
- Kinross Gold Corporation
Kinross Gold Corporation in its US$225 million sale of Chirano mine to Asante Gold Corporation
- Kinross Gold Corporation
Kinross Gold Corporation in its US$1.4-billion acquisition of Great Bear Resources
- Apollo Global Management Inc.
Apollo Global Management in its $3.3 billion acquisition of Great Canadian Gaming Corporation
- Chemtrade Logistics Income Fund in its $890 million take-over bid for Canexus Corporation.
- COM DEV in connection with its acquisition by a subsidiary of Honeywell International Inc. by way of a plan of arrangement and its spinoff of exactEarth Ltd.
- BMO Financial Group in its acquisition of General Electric Capital Corporation’s Transportation Finance Business
- Calloway REIT in its $1.16 billion acquisition of SmartCentres
- Shoppers Drug Mart in connection with its proposed $12.4 billion acquisition by Loblaw Companies Limited
- Carl C. Icahn in his takeover bid for Lions Gate Entertainment Corp.
- Chemtrade Logistics Income Fund in connection with its acquisition of Marsulex Inc.
- TELUS Health in connection with the 2014 acquisition of XD3 Solutions (a provider of pharmacy management solutions) and the acquisition from ZoomMed of an interest in ZRx Prescriber (a web based prescription solution), as well as the 2012 acquisitions of KinLogix, the largest provider of cloud based Electronic Medical Records (EMR) in Quebec, and Wolf Medical Systems, Canada’s leading EMR solution provider
- Dundee REIT in connection with its $1.4 billion acquisition of Whiterock REIT and the acquisition of Scotia Plaza, and various other transactions and arrangements
- Entertainment One in its acquisition of Alliance Films
- Georgia Gulf Corporation in its merger with the commodity chemicals division of PPG Industries, Inc. for $2.1 billion
- Maple Leaf in connection with the acquisition of the Puratone Corporation
- Maple Leaf in connection with the sale of its 90% interest in Canada Bread to Grupo Bimbo
- Olivieri Foods Limited in the sale of all of its assets to Catelli Foods Corporation
- Placer Dome Inc. in its response to the unsolicited bid from Barrick Gold Corporation and subsequent negotiated $10.4 billion acquisition
- Quad/Graphics on the sale of its Canadian printing business to Transcontinental
- SANYO Electric Co. Ltd. in its US$9 billion acquisition by Panasonic Corp.
- U.S. Steel Corporation in its acquisition of Stelco and in connection with its litigation with Industry Canada regarding the performance of its undertakings
- Shoppers Drug Mart Corporation in its acquisition of the HealthAccess division of Calea
- Royal Bank of Canada in connection with its acquisition of the Canadian automobile finance and deposit business of Ally Financial Inc.
- Enterprise Holdings in connection with the investigation by the Competition Bureau into industry marketing practices
- Enterprise Holdings Inc. in its Canadian subsidiary’s acquisition of Canadian Discount Car and Truck Rentals
- Competition advice on various transactions and arrangements in the health care and pharmaceutical sectors
Latest Insights
-
Report June 28, 2024
The amended Canadian Competition Act: what businesses need to know
Following a series of high-profile amendments aimed at strengthening Canada’s competition law regime culminating in royal assent for Bill C-59 on...
Read more
-
Osler Update November 20, 2025
PE Points Newsletter
Osler’s National Private Equity Group has launched its quarterly PE newsletter: your source of private equity news and information.
Read more -
Osler Update October 21, 2025
Key competition law considerations when transferring portfolio businesses to continuation vehicles
Transferring a portfolio business to a continuation vehicle may be subject to mandatory notification under the Competition Act.
Read more -
Osler Update June 25, 2025
Competition Bureau releases updated guidance on enforcement approach to property controls
The CPC Guidance published by the Competition Bureau advocates that firms use property controls only where justified.
Read more
Awards and Recognition
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Chambers Canada: Canada’s Leading Lawyers for Business: Recognized in Competition/Antitrust
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Chambers Global: The World’s Leading Lawyers for Business: Recognized in Competition & Antitrust
- “…clients commend her ability to ‘get to the heart of the matter quickly.”
- “[She is] always available” and “always accommodating.”
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The Canadian Legal Lexpert Directory: Recognized in Competition Law
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Best Lawyers in Canada: Recognized in Competition & Antitrust Law
-
Legal 500: Recognized as a Recommended Lawyer, Competition and Antitrust
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Who’s Who Legal: Recognized in M&A Governance (Foreign Investment Review), Foreign Investment Control and Competition (Canada)
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Who’s Who Legal Thought Leaders: Global Elite: Recognized in Foreign Investment Control
-
Legal Media Group: Recognized in Legal Media Group’s Guide to the World’s Leading Competition & Antitrust Lawyers
Speaking and Writing
Speaking Engagements
The past, present and future of green claims: key insights for practitioners and businesses
Read morePublished Work
- Antitrust: Compliance mission impossible, GCR Live 5th Annual Antitrust Law Leaders Forum, Global Competition Review Live Events, February 6, 2016 (speaker).
- Supreme Court of Canada’s Tervita Decision Provides Important Guidance on Canada’s Merger Laws, Osler Update, January 30, 2015 (co-author).
- Mind the Gap: Commissioner of Competition to Scrutinize Cross-Border Pricing Policies, Osler Update, December 11, 2014 (co-author)
- Competition Bureau Emphasizes Proactive Approach to Fostering a Culture of Compliance and Managing Competition Law Risk, Osler Update, October 16, 2014 (co-author).
- Is the Current Policy Approach to State-Owned Enterprise Investment of Net Benefit to Canada?, The Canadian Bar Association, September 19, 2014 (moderator).
- Competition Bureau Releases Consultation Draft of Price Maintenance Enforcement Guidelines, Osler Update, April 4, 2014 (co-author).
- Toronto Real Estate Board Heads Back to the Competition Tribunal, Osler Update, February 4, 2014 (co-author)
- The Essentials of Merger Review (Canada Chapter), American Bar Association International Law Section, 2013, co-authored with K. Kuzma (Osler).
- Recent Developments in Merger Review, Canadian Competition Law Review, Volume 25 – Issue No. 1 (co-authored with K. Kuzma).
- New Rules for Foreign Investment by State-Owned Enterprises – Do They Strike the Right Balance?, Osler Update, December 9, 2012 (co-author).
- Panel of Abuse Dominance (Moderator), 2012 Fall Conference, Canadian Bar Association.
- Current Topics in Merger Enforcement (Speaker) 2011 Fall Conference, Canadian Bar Association.
- Competition Law Essentials for Business Lawyers and Executives (Speaker), January 31, 2011, Osgoode Professional Development Centre.
- Vertical Restraints: Pricing and Distribution: How Far Can Clients Go? (Moderator), November 5, 2010, Ontario Bar Association Conference.
- Competition Law Compliance Challenges for In-House Counsel (Speaker), 2010 Fall Conference, Canadian Bar Association, Competition Law Section.
- Important Changes to Canada’s Competition and Investment Laws – More Certainty or Less?, The Threshold, Spring 2009 (co-authored with Peter Franklyn).
- Sovereign Wealth Funds to the Rescue?, Osler Corporate Review, December 2008 (co-authored with Frank Turner and Daniel Dubois).
- Expert Panel Recommends Significant Changes to Rules for Doing Business in Canada, Corporate Law 360, Summer 2008 (co-authored with Peter Franklyn).
- Canadian Competition Policy Review Panel Recommends Far-Reaching Changes, ABA, International Antitrust Bulletin, Summer 2008 (co-authored with Peter Franklyn).
- Price Maintenance – Examining the Proposals for Reform, paper presented at the 2008 Fall Conference, Canadian Bar Association, Competition Law Section.
Credentials
Education
- McGill University, LL.B./B.C.L.
- University of Toronto, B.A.
Languages
- English
Professional Affiliations
- Canadian Bar Association, Competition Law and Foreign Investment Review Section Executive Member
- Ontario Bar Association
- American Bar Association, Antitrust Law
- Women’s White Collar Defense Association
