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Article: Potential New Impediments To M&A Transactions: Restrictions On Foreign State-Owned Enterprises And A New National Security Test In Canada.(Investment Canada Act)(U.S. Foreign Investment and National Security Act of 2007 )
- Article from:
- Mondaq Business Briefing
- Article date:
- October 25, 2007
CopyrightCOPYRIGHT 2007 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Canada
On October 9, 2007, Jim Prentice, Minister of Industry, announced that this fall the government of Canada will consider
introducing new guidelines on takeovers by foreign state-owned enterprises; and
amending the Investment Canada Act to permit the review of foreign investments that could compromise Canada's national security.
The Minister's announcement appears to preempt the work of an expert Competition Panel that the government charged with considering these and other issues, and that is due to report in June 2008.
Foreign State-Owned Enterprises
On the issue of investments by foreign state-owned ...