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The Investment Canada Act – Recent Announcements

Posted in Private Transactions, Public M&A

Recently, the Government of Canada issued a flurry of announcements relating to the Investment Canada Act.  Here are some highlights that we thought would be of interest to our M&A Blog followers:

The government is proposing a legislative change that would require the Minister of Industry to give reasons for any rejection under the Investment Canada Act, whether initial or final.  Presently, the Minister is only obliged to give written reasons in the event of a final rejection.  As we saw in 2010, the Minister issued an initial rejection of BHP Billiton Ltd.’s bid for Potash Corp. and BHP then … Continue Reading