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Article: Canada blocks Alliant satellite plan; The Edina company's $1.33 billion deal to buy a Canadian satellite maker was a key part of its space-related strategy.(BUSINESS)
- Article from:
- Star Tribune (Minneapolis, MN)
- Article date:
- April 11, 2008
- Author:
CopyrightCOPYRIGHT 2008 Star Tribune Co. 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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Byline: DEE DePASS; STAFF WRITER
Alliant Techsystems has to rescript its plan for becoming a $5 billion company anytime soon.
Canadian officials on Thursday balked at the company's plan to buy a Toronto-based satellite business, saying they were "not satisfied" that the $1.3 billion deal -- which would be Alliant's largest and its first outside the United States -- offers any benefit to Canada.
Executives of Edina-based Alliant had viewed the purchase of MacDonald, Dettwiler & Associates (MDA) and its satellite operations as a major coup that would give Alliant the ability to make every part of a satellite for the first time.
The ...